Despite demonstrated need and demand throughout Latin America and the Caribbean (LAC), many MSMEs and low-income households are not able to access clean energy, energy efficiency technologies, and adaptation products. A primary cause of this is that their financial providers do not have the appropriate tools and know-how to develop and offer sustainable green financial products to facilitate the acquisition of mitigation or adaptation technologies.
This is an innovative approach to developing products that facilitate access to sustainable, low-cost energy or adaptation technologies for MSMEs and low-income households. The approach considers the affordability, reliability, and commercial viability of a particular technology for the end-user client.
This includes designing products such as:
- productive loans for those interested in becoming suppliers/retailers of renewable energy, energy efficiency, or adaptation products and/or services.
- consumer loans that promote the increased adoption and use of these technologies.
- financing for green entrepreneurs and MSME businesses.
- providing micro-insurance for MSME asset protection including crop insurance for smallholder farmers.
EcoMicro is a Technical Cooperation Program by the Inter-American Development Bank’s IDB Lab, co-financed by Global Affairs Canada, IDB Lab and Nordic Development Fund. The Global Affairs Canada contribution supports The EcoMicro Caribbean Program.