BCIE - Banco Centroamericano de Integración Económica

05/09/2024 | Press release | Distributed by Public on 05/09/2024 11:36

Empowering women of the Ngäbe Buglé region in Panama through the generation and use of solar energy

Panama City, Panama, May 9, 2024.- A group of 24 women from the Ngäbe Buglé region will be trained on the installation and repair of micro-electricity generation systems based on solar panels, in addition to receiving training in management and business development. Each participant will receive two solar photovoltaic system kits for their homes and businesses, positively impacting 215 families in the short term and benefiting approximately 600 people in the long term.

The "Entrepreneurship in Renewable Energy" project is a strategic alliance between the Micro, Small and Medium Enterprise Authority (AMPYME), the National Institute of Professional Studies and Training for Human Development (INADEH) and the Erika Ender Open Doors Foundation (FUNPAEE). This joint initiative seeks to energize the business and energy park in the country's comarcas, promoting a comprehensive approach that encompasses the gender perspective, financial inclusion, business development, technical training, and environmental care.

In line with this purpose and in order to promote the participation of women in a key sector for sustainable development, the Central American Bank for Economic Integration (CABEI), within the framework of the Green MSME II Initiative, a strategic alliance with the Government of Germany through KfW ,and the European Union, signed an agreement today with FUNPAEE in the amount of US$50,000.00.

The Green MSME II Initiative plays a key role in supporting projects such as this one, offering innovative and sustainable financial products for micro, small and medium-size enterprises (MSMEs) in Central America. At the regional level, it has supported MSMEs in Central America, granting more than US$40,000,000 in loans and more than US$7,000.000 in guarantees, protecting more than 10,000 jobs in more than 600 companies.

This action represents one of the two main efforts implemented by the European Union, KfW, and CABEI in Central America to improve access to financing, and strengthen the capacities of the region's micro, small, and medium-size enterprises (MSMEs). The DINAMICA II Initiative is another effort that focuses on supporting new, young, and innovative companies. Both initiatives are aligned with the European Union's Global Gateway strategy, which seeks to foster green and digital, socially just transitions throughout Latin America. It is a comprehensive and inclusive strategy that promotes EU-LAC investments and cooperation, both from the public and private sectors.