The European Investment Bank (EIB) and the Central American Bank for Economic Integration (CABEI) are planning to unlock millions of dollars of investment in Central America’s renewable energy sector.
The two banks have launched a renewable energy lending initiative, with the EIB providing $230 million of support.
The initiative will enable more than $500 million of investment in projects in the hydropower, wind, geothermal and photovoltaic sectors in six countries. Energy efficiency schemes will also be included, says the EIB.
It is hoped that the initiative will reduce dependency on oil imports in Honduras, Nicaragua, El Salvador, Guatemala, Costa Rica and Panama.
