The Central American Bank for Economic Integration (BCIE) has begun implementing the GEF/UNDP/BCIE Accelerating Renewable Energy Investment in Central America and Panama Project's (ARECA) Partial Credit Guarantee Program by opening a US$30 million credit line to Guatemala for renewable energy projects.
22 February 2012: The Central American Bank for Economic Integration (BCIE) has granted a credit line to Guatemala’s Agromercantil Banks SA (BAM) to loan for renewable energy projects in that country. The agreement for the US$30 million credit line, signed in Guatemala City, will enable the Partial Credit Guarantee Program of the Accelerating Renewable Energy Investment in Central America and Panama Project (ARECA). ARECA was created by the Global Environment Facility (GEF), UN Development Programme (UNDP) and BCIE to support the financing to renewable energy projects under 10 megawatts (MW) through the reduction of financial barriers and increasing the related capacities of the financial and energy sectors in Central America. The Partial Credit Guarantee Program, managed by BCIE, is ARECA’s chief instrument.
Projects eligible for ARECA partial guarantees include those that generate energy through hydro, wind, biomass, geothermal and solar sources and which help reduce greenhouse gas emissions. [BCIE Press Release (Spanish)]