Central American Bank for Economic Integration Announces Plans to Finance Millions in Electric Mobility
This week, the Central American Bank for Economic Integration (CABEI) announced plans to finance millions in EV investments in Central America. The announcement took place during their event, CABEI Business Forum 2022: Introducing Electric Mobility in Central America, which featured Assistant Secretary of State Geoffrey Pyatt, Bureau of Energy Resources, and leading US companies in the transportation sector.
“We have close to $600 million in green bonds that we’d like to use to finance US EV purchases, but we just can’t find the vehicles,” said Dante Mossi, Executive President of CABEI. “Today’s forum will help make the investment connections needed to bring more EVs to Central America.”
“I have just returned from COP27 in Egypt, and it is clear the world is eager to promote more financing of clean energy technologies,” said Assistant Secretary Pyatt. “Ambitious climate action requires that companies and governments work together to accelerate the energy transition in every region to help the world achieve 1.5 degrees Celsius.
The event featured demonstrations from major automotive companies, including Telsa, GM, Navistar, Blink Charging, and others, as well as perspectives and announcements from prominent think tanks such as the Atlantic Council and investment groups including Think HUGE.
“The Central American region holds incredible promise for the adoption of electric vehicles,” said Marianne McInerney, Chief Marketing Officer of Cenntro Automotive. “Cenntro firmly believes in the region’s zero emission potential and is dedicated to bringing commercial and agricultural EV vehicles to the region which can result in critical economic and health benefits.”
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“The entire Navistar team is proud of our progress in eMobility and our thoughtful approach to accelerating the adoption of zero emissions vehicles,” said Manuel Barrios, vice president, Latin America & Caribbean, Navistar. “We are centered around providing a complete ecosystem solution that will allow our customers to seamlessly integrate our EVs into their fleets.”
The goal of the event was to bring together US and regional stakeholders from the eMobility sector to drive investment opportunities, as well as inform and explore relevant trends in sustainable transport and EV charging technologies.
“Today I submit to you a proposal for the development of an eMobility Working Group at HUGE to identify these opportunities, pull together potential investors and recognize the obstacles that might impede such development,” said Juan José Daboub of Think HUGE.
The Central American Bank for Economic Integration (CABEI) focuses its efforts on the development of key sectors that allow economic, social, and environmental development. Energy and transportation are prioritized sectors in which CABEI has played a pivotal role through the financing of projects, programs, and initiatives in countries of the Central American Integration System (SICA) region.
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