Latin American Development Banking strengthens its capabilities in sustainable financing through the RENAC program driven by ALIDE and the German Government
- In total, 542 representatives from the sector of Colombia, Costa Rica, Guatemala, El Salvador, Honduras, Nicaragua, Panama and Peru were selected in order to specialize them in green financing and sustainable development.
July 03, 2019.- As a financial instrument of the governments, Development Banking exercises an important function in sustainable development and the mitigation of climate change, through the financing and co-financing of green projects, the development of financial instruments and, in general, fostering a greater participation of actors, such as the private sector, in this area of the economy.
In line with this function, the Renewables Academy AG (Renac), an independent body of the German Government, whose mission is to offer training in renewable energies and energy efficiency, with the support of the Latin American Association of Development Financing Institutions (ALIDE), operates in Latin America the “Green Banking Program: Training in Green Energy and Climate Financing Capabilities”, whose purpose is to strengthen the expertise of the bankers concerning sustainable development financing.
As part of the program —which was officially launched in November 2018 in Peru—, ALIDE and Renac convened and selected representatives from the financial institutions to participate in the four modalities available: online training (OT), applying green energy financing (AGEF), train-the-trainer (TtT) seminars and delegation travels (DT). In total, 542 representatives from institutions from the eight countries benefiting from the program (Colombia, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama and Peru) were selected.
With a duration of 3 years, the purpose of the program is to improve and reinforce the capabilities of the financial sector, in order to create new lines of business to finance renewable energy and energy efficiency projects, and fostering the use of the climate financing instruments provided internationally.
It is worth mentioning that the “Green Banking Program” was successfully executed by Renac in Asia with the support of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP). For its launching in Latin America, the German institution had strategic alliances with organizations from the region, such as ALIDE, which serves as a partner for the work with Development Banking, the Central American Bank for Economic Integration (CABEI) and the Latin American Banks Federation (FELABAN).
ALIDE is the community of financial institutions that generates solutions in Latin America and the Caribbean. Its main objective is to contribute to the economic and social development of the region, through good practices in the financing of development, the promotion of its members, through cohesion activities and strengthening the participation of financial institutions in the process regional economic.