Central American bank and Guatemalan bank sign climate resilience agreement

The Banco Centroamericano de Integración Económica (BCIE) and the Banco de Desarrollo Rural (BANRURAL) signed a non-reimbursable technical assistance agreement to improve climate management at the Guatemalan financial institution.

The cooperation falls under the Productive Investment Initiative for Climate Change Adaptation (CAMBio II). This initiative receives co-financing from the BCIE and the Green Climate Fund (GCF).

The technical assistance will help the bank create a strategic climate change diagnosis and measure greenhouse gas emissions related to the Torre de Desarrollo under international standards. The project provides recommendations for the bank's sustainability strategy and offers knowledge transfer to its staff. These actions aim to help the bank identify ways to reduce emissions and guide future sustainable financing initiatives.

This move builds on a partnership between the two organizations that has lasted more than 27 years to support the productive sector in Guatemala. The BCIE supports its partner financial institutions in developing the skills needed to face climate change challenges. The goal is to expand financing for sustainable and climate adaptation projects specifically for micro, small, and medium enterprises (MIPYMES) in Guatemala.