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Detail of GEF Project #975
| GEF Project ID | 975 |
| UNDP PMIS ID | 2042 |
| Funding Source | GEF Trust Fund |
| Project Name | Accelerating Renewable Energy Investments through CABEI in Central America |
| Country | Regional |
| Region | Latin America and Caribbean |
| Focal Area | Climate Change |
| Operational Program | 6 |
| Pipeline Entry Date | 2001-01-16 |
| PDF-B Approval Date | 2001-01-16 |
| Approval Date | 2004-11-19 |
| CEO Endorsement Date | 2007-04-30 |
| GEF Agency Approval Date | 2007-05-16 |
| Project Status | IA Approved |
| GEF Agency | UNDP |
| Executing Agency | Central American Bank For Economic Integration (CABEI) |
| Description | The overall objective of the project is to accelerate renewable energy investments through the Central American Bank for Economic Integration (CABEI). The project is a regional approach, involving Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama and Belize which aims at reducing greenhouse gas emissions by promoting use of renewable energy systems for electricity generation in grid connected applications, thereby contributing to the economic development of Central America. The specific objective of this project is to remove financial barriers that currently impede the large-scale development of renewable energy projects in Central America. Barrier removal requires the following activities: 1. Integrate small-scale renewable energy lending strategies internally at CABEI; 2. Development of a pro-active small-scale renewable energy pipeline to be included in the lending portfolio of CABEI; 3. Development of appropriate risk mitigation mechanisms to increase the availability of investment capital for RE projects less than 10MW; and 4. Support market penetration through expanded financing opportunities. |
| Implementation Status | Honduras ARECA 2042 - CABEI is working on the detailed financial mechanisms necessary for CEO endorsement. A UNDP Project document will be submitted for CEO endorsement in the upcoming months. |
| PDF B Amount | 100,000 USD |
| GEF Project Grant | 6,920,000 USD |
| GEF Grant | 7,020,000 USD |
| Cofinancing Total | 82,670,000 USD |
| Project Cost | 89,690,000 USD |
| GEF Agency Fees | 600,000 USD |
| GEF Project (CEO Endo.) | 6,920,000 USD |
| Cofinancing Total (CEO Endo.) | 82,175,000 USD |
| Project Cost (CEO Endo.) | 89,195,000 USD |
| Project Documents |
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