Chaguanas, Trinidad – November 11, 2019: Buoyed by their recent participation in the IDB’s EcoMicro Annual Knowledge Sharing and Networking event in the Dominican Repubic, leaders from the Central Finance Facility (CFF) and five credit unions have committed their Credit Unions to taking a lead role in sharing the local Green Economy.
On October 30th 2019, participants in past and present EcoMicro projects, including leaders from local and Caribbean Credit Unions met in the Dominican Republic to share ideas about how to implement the most effective green finance solutions for customers in their countries.
The Central Finance Facility (CFF) has developed an operational framework that will guide credit union operations towards the development of the local green economy. Based on this initiaitive it has received technical assistance from the IDB sponsored Eco-micro Project.
The technical assistance which included the participation of five credit unions at the knowledge sharing and networking event, will provide participating credit unions with over five hundred thousand dollars in consultancies that will allow them to develop financial products and services that will facilitate their members paricipation in the Green Economy. The package will also include energy audits and energy saving strategies and technical support for credit union members.
EcoMicro is a Technical Cooperation Program by the IDB Lab, co-financed by Global Affairs Canada, IDB Lab and the Nordic Development Fund. EcoMicro partners with Financial Institutions to create Green Finance Products that build resilience of Micro, Small and Medium Enterprises (MSMEs) and low-income households to climate change. The program provides participating partners with an innovative approach to developing products that facilitates access to sustainable, low-cost energy or adaptation technologies for MSMEs and low-income households. The Global Affairs Canada contribution supports the EcoMicro Caribbean Program.
The local credit Union team was led by Mr. Marlon Charles, Secretary of the Central Finance Facility (CFF), Ms. Renee Bain-Keller of the Police Credit Union, Ms. Camille Hypolite-Ferdinand of the PECU Credit Union, Mr. Wayne Nunes of the Aero Services Credit Union. Mr. Charles also represented the Fire Service Credit Union.