THE CARIBBEAN ECOMICRO PROGRAM


CARIBBEAN CALL FOR PROPOSALS OPEN!

The Caribbean EcoMicro Program is funded by the Government of Canada, through Global Affairs Canada and the Inter-American Development Bank’s Multilateral Investment Fund.

What we finance

EcoMicro will provide up to US$280,000 in grant resources for projects that implement the following 3 Components:

Component 1: Design & Implementation of Green Finance Products

This is the principal component of all EcoMicro Projects.

It includes the design and piloting of Green Finance product(s) for MSMEs and Low-Income Households based on a market analysis to establish local demand for green lending and potential partnerships with local suppliers and other key actors. Based on this analysis the specific terms of the green finance products will be developed tested in the markets.

This component may also include: employee training, design and implementation of new processes and credit technologies, client communication strategies, guidance on selection of technologies and technology partners, support for strategic partnerships to deliver complementary services (such as building awareness of farmers/MSME clients about adaptation technologies).

The project will link the Financial Institution to a network of specialized global consulting firms to design and piloting the green finance products in the following areas:

  • Renewable Energy

  • Energy Efficiency

  • Climate Change Adaptation

3 AREAS OF GREEN FINANCE

Enabling access to
Renewable Energy

These loans will facilitate access to RE technologies including solar products (panels, lights, air conditioning units, water heaters, pumps etc.), mini-wind technology, among others.

Incorporating Energy
Efficiency

EE Loans can substitute polluting/inefficient equipment or productive processes, such as LED lighting, efficient refrigeration, heating and cooling systems. The objective is to generate energy savings that offset some or all of the loan repayment installments. These types of loans usually require a diagnosis to identify the potential savings before the loan is disbursed.

Facilitating Climate
Change Adaptation

Green finance products for adaptation aim at increasing resilience and reducing clients’ vulnerability through, for example use of climate resilient seeds, greenhouse installation, use of renewable energies for irrigation (e.g. solar water pumps), diversification of income sources, or crop microinsurance, among others.

Component 2: Analyzing the Vulnerability of the Finance Institution Loan Portfolio to Climate Change

This component will entail an analysis of the vulnerability of the finance institution’s loan portfolio to climate change and the development of appropriate risk management tool(s). These tools will help FIs to better understand their existing portfolio and also to incorporate analysis of climate risks into future credit decisions. For example, an agricultural client in an area forecasted to experienced more droughts may be scored as lower risk if they have installed appropriate technologies such as irrigation and rain water harvesting systems.

Component 3: Reducing the Environmental Impact of the Finance Institutions

In this component EcoMicro will support the development and implementation of institutional greening policies within the FI itself. This might include energy and environmental audits of FI offices and facilities, carbon footprint analysis. These policies will enable FIs to generate energy savings, reduce greenhouse gas emissions, reduce waste and promote environmental sustainability. The rationale for this component is to facilitate “a change of mind” within the finance institution and to create new “green” habits among the institution’s employees and management team that can strengthen their long-term commitment to green finance.

Our partners

EcoMicro has established a robust ecosystem for green finance - connecting finance institutions and networks, adaptation and mitigation specialists, finance specialists, technology suppliers and development partners globally to develop demand-led, sustainable green finance solutions for MSMEs and low-income households in the face of a changing climate and economic uncertainty.

The following are examples of the kinds of firms that EcoMicro has been able to mobilize for past projects.

CONSULTING FIRMS IN OUR NETWORK:

  • ADG-Internationl

  • AFC Consultants Internationl

  • Agea

  • Analistas Financieros Internacionales

  • Arc Finance

  • Basel Agency for Sustainable Energy

  • Chemonics

  • Climate Focus

  • DAI

  • Desjardins

  • Econoler

  • Enclude

  • Enea Consulting

  • Euroinvest Panamericana

  • Frankfurt School of Finance and Management

  • GOPA Worldwide Consultants

  • Green Microfinance Global

  • Greenmax

  • International Institute for Sustainable Development

  • International Projekt Consult

  • Mennonite Economic Development Associates

  • Micro Energy International

  • Microsave

  • Myclimate

  • National Bank of Canada

  • Oliver Wyman

  • Perspectives of Climate Change

  • Planet Finance

  • Planet Rating

  • SBI Consultants

  • Symbiotics

  • Triodos Facet

Countries

  • Antigua & Barbuda

  • Bahamas

  • Barbados

  • Belize

  • Dominica

  • Grenada

  • Guyana

  • Jamaica

  • St. Kitts & Nevis

  • St. Lucia

  • St. Vincent and the Grenadines

  • Suriname

  • Trinidad & Tobago