$27 Million Available for Salvadoran Industry

Salvadoran industrial companies will access special credit lines for environmental reconversion and energy efficiency projects.

Wednesday, September 23, 2009

The funds will be administered by the Salvadoran Industry Association (ASI), and provided by the Multi Sector Investment Bank (BMI).

"The program, which will also provide refundable assistance, has $27.2 million available. Loans will pay a competitive interest rate of 7%", reports Laprensagrafica.com. "$500.000 will be the individual limit for environmental projects and $4 million for renewable energy ones".

More on this topic

Loans for Renewable Energy Projects

October 2013

The Banco de Desarrollo de El Salvador (Bandesal) has announced the availability of $10 to $15 million as part of a special credit line for small-scale renewable projects.

From a press release by the Banco de Desarrollo de El Salvador (Bandesal):

On Tuesday, October 22, in facilities of the Salvadoran Association of Industrialists (ASI) and in order to meet the financing needs for the development of projects for small-scale Renewable Energy generation, the Development Bank of El Salvador Bandesal in coordination with the National Energy Council (CNE) and ASI through the Unity Energy Facilitator with Renewable Resources (UFERR) presented to project developers the requirements and guarantees needed for financing projects which have sales contracts for long-term power.

Current Legislation Blocks Investment in Renewable Energy

February 2012

The Manufacturers Association of El Salvador is urging the Government to make changes to the legal framework that regulates the electrical system.

The current legislation does not give priority to supplying the system with power generated from renewable sources, limiting investment in such projects.

Nicaragua: $27 million for Renewable Energy

November 2011

The governments of Nicaragua and Korea have signed a loan to finance renewable energy projects.

The Intergovernmental Agreement signed by both governments is for $27.2 million, with a forty-year term, and a grace period of ten (10) years.

The credit line will be used to fund the National Sustainable Electrification and Renewable Energy Program, to be implemented by ENATREL.

$50 Million For Salvadoran Coffee Industry

February 2010

The funds by BMI (Multilateral Investment Bank), are intended to reactivate coffee production.

A special credit line was created for coffee growers, producers, packers and exporters, as well as coffee societies and associations.

From Elsalvador.com: “$50 million will be available in credits across the entire financial system, at 9% interest rate, and maturing on September 2011”.

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