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IDB to promote biofuel
production and SME
competitiveness in Central
America
The Inter-American Development
Bank, at a meeting with finance
ministers and central bank
presidents from Central America
and the Dominican Republic,
offered to step up its efforts
to promote alternative energy
sources, biofuel production and
the competitiveness of small and
medium-size enterprises.
The proposals were made during
talks held here on Thursday and
Friday with the IDB governors
for Belize,
Costa Rica,
Dominican Republic, El Salvador,
Guatemala, Honduras, Nicaragua
and Panama, who met with IDB
President Luis Alberto Moreno,
managers and specialists.
The Board of Governors is the
IDB’s top decision-making body,
comprising representatives from
all 47 member countries. The
talks with Central American
governors were held in
preparation for the Board’s
annual meeting, which is to take
place in March in Guatemala.
During their first day in San
Jose governors and the IDB
delegation discussed the outlook
of the global economy and its
implications for the Central
American region.
Financing for private sector
projects, an initiative to
create opportunities for
economic advancement for the
poor, the development of
renewable energy sources to
reduce the region’s oil imports,
and the application of science
and technology to improve
competitiveness were also
discussed.
The IDB’s Inter-American
Investment Corporation made a
presentation to the governors of
FINPYME, a new program to expand
small and medium-size
businesses’ access to financing.
FINPYME, which is being carried
out with a South Korean grant,
consists of a new methodology to
diagnose the strengths and
weaknesses of SMEs and help them
design plans to improve their
operations and increase their
possibilities of obtaining
financing either from the IIC or
commercial banks. FINPYME is
being launched this month in
Central America and the
Dominican Republic.
During the second day
participants discussed issues of
regional interest such as
cooperation to take greater
advantage of trade agreements
signed with industrialized
nations and other Latin American
countries. Governors also
analyzed the IDB’s own process
of realignment, which is aimed
at making the Bank more agile
and responsive to the needs and
priorities of its clients.
Moreno later held bilateral
meetings with the governors from
Belize, Dominican Republic, El
Salvador, Guatemala, Honduras,
Nicaragua and Panama. The
session with Costa Rica was held
on Thursday and ended with a
visit to President Oscar Arias.
The IDB is the leading source of
multilateral financing for
economic and social development
projects in Latin America and
the Caribbean.
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