ALIDE and Renac cooperate in boosting sustainable development in Latin America and the Caribbean

The two institutions seek through the “Green Banking Program” to upgrade financial sector capacities in the area of sustainable development. The program was recently introduced in six of the region’s countries.

March 1, 2019.-  The Latin American Association of Development Financing Institutions (ALIDE) and Germany’s Renewables Academy AG (Renac) are cooperating to incentivize sustainable development and the mitigation of climate change through implementation of the “Green Banking Program: Building Green Energy and Climate Financing Capacities,” officially launched in the Latin American region in November 2018.

Continuing with the activities planned for the program in 2019, meetings were recently held with representatives and high-level executives of association member banks in Colombia, Costa Rica, El Salvador, Guatemala, Honduras and Panama, where important aspects of this initiative were presented and discussed.

The purpose of the program, which has a planned duration of 3 years, is up upgrade and strengthen financial sector capacities in order to create new lines of business for financing renewable energy and energy efficiency programs and make use of climate financing instruments that are available internationally. Targeting Latin American and Caribbean professionals, it is based on fellowships and offers different types of training, network events and the exchange of experiences. For further information about the program, click HERE.

ALIDE and Renac held meetings in the cited countries with Fondo para el Financiamiento del Sector Agropecuario (Finagro), Banco Nacional de Costa Rica, Banco Popular y de Desarrollo Comunal (BPDC), Banco de Desarrollo de El Salvador (Bandesal), Banco de Fomento Agropecuario (BFA), Crédito Hipotecario Nacional (CHN), Banco de Desarrollo Rural (Banrural), Banco Hondureño de la Producción y la Vivienda (Banhprovi), Banco de Desarrollo Agropecuario (BDA) and Banco Hipotecario Nacional (BHN).

It should be added here that Renac had carried out the “Green Banking Program” successfully in Asia. To launch it in Latin America, the German institution established strategic alliances with regional entities like ALIDE, which operates as its partner for its work with the development banking system.

ALIDE is the community of financial institutions that generates banking solutions for the development of Latin America and the Caribbean. The activities that it promotes and carries out seek the cohesion and strengthening of the action and participation of financial institutions in the economic and social development process in the region. ALIDE encourages regional integration and financial cooperation with other regions of the world to achieve the mobilization of resources and technology for the development of Latin America and the Caribbean.