The European Union’s Latin America Investment Facility (LAIF), the German Cooperation Ministry (BMZ) and the German Development Bank (KfW) have signed an agreement on a €15 million EU contribution to the Latin American Green Bond Fund, known as LAGREEN. The signing coincides with a fruitful virtual meeting of foreign ministers from the EU, Latin America and the Caribbean, hosted by Germany, on 14 December.
The project that will provide potable water and sewerage to rural communities of Portoviejo, Ecuador, receives financial support from the European Union, through LAIF.
It is considered one of the largest and most ambitious social development and infrastructure projects in Ecuador, which will benefit more than 55 thousand people who have lived outside these basic services.
This work will contribute to the achievement of a series of Sustainable Development Goals (namely 3, 5, 6, 11, and 13) and to strengthen Ecuador's resilience in the face of pandemics such as Covid-19.
This report summarizes the activities and investments made by LAIF in Latin America in the last ten years, and CIF in the Caribbean in the last seven years, respectively. It also provides a complete description of the 8 projects approved in 2019, with a total contribution of 76.6 million euros, from both blending instruments.
This contribution from the EU, through LAIF and CIF, leveraged more than 1.8 billion euros (24: 1 leverage ratio).
The European Union’s Latin America Investment Facility, or LAIF, has signed a financing agreement to provide 5.75 million euros in technical assistance to the Triple Inclusive Finance (TIF) programme in Latin America. TIF will promote access to banking services to people currently lacking such access, and will support green microfinancing for micro-, small and medium enterprises in sustainable agriculture. In doing so, it will contribute to closing the banking gap in the region, particularly in rural areas, for low-income workers and for women, while fostering sustainable development in the farming sector.
Spain has awarded three new grants in recent weeks to support the response to the COVID-19 emergency by reinforcing drinking water and sanitation services in rural communities to ensure human rights to water and sanitation. Two of the donations are destined to the Salvadoran NGO PROVIDA and Asociación de Desarrollo Económico Social - ADES Santa Marta for a value of 119,472 and 93,148 euros, respectively, and the third to the Ecuadorian NGO Centro de Apoyo al Desarrollo PROTOS EC for 212,617 euros.
The Central American Bank for Economic Integration, the German Financial Cooperation, through KfW, and the European Union, through its Latin America Investment Facility (LAIF), contribute US$ 350 million to micro, small and medium-sized enterprises affected by COVID-19, through the Financial Sector Support Facility for MSMEs in Central America.
Through the Facility, credit resources are made available to MSMEs to finance their working capital and investment needs through existing financial institutions in the different Central American countries.
Join us on Friday 11 September from 15:00 to 16:15 CET for the online event 'Team Europe: Joining forces for financing the global recovery', which is dedicated to Team Europe’s response to the recovery in emerging and developing economies, the response of European financial institutions to COVID-19 and their coordination initiatives.
Dante Mossi, Presidente Ejecutivo del BCIE; Jolita Butkeviciene, Directora UE para LAC; Vania Vegas, Gerente de Programas de KfW; y Paul Stenier, Presidente de CONAMYPE.
The European Union (EU) together with the Central American Bank for Economic Integration (CABEI), the German Development Bank KFW and the National Commission for Micro and Small Enterprises (CONAMYPE) of El Salvador, announced on June 19 the launch of the Initiative Dinámica II - Special Window of El Salvador for 6 million euros, within the framework of the Financial Sector Support Facility for micro, small and medium-sized enterprises (MSMEs) affected by the COVID-19 crisis.
© International Organization for Migration. Credit: Muse Mohammed
Together with the Inter-American Development Bank and the Korean Poverty Reduction Fund (KPRF), EU LAIF finances a program to support Venezuelan migrants' urban integration in Colombia.
The program will be executed by the Empresa Nacional Promotora del Desarrollo Territorial (Territorial Development Promotion Company, ENTerritorio) and will focus initially on the improvement of the infrastructure and institutional capability of the metropolitan areas of Cúcuta and Villa del Rosario; Riohacha and Maicao; Barranquilla; Medellín and Rionegro.