The government of Germany has agreed to provide US$11 million to finance renewable energy and energy efficiency in Central America.
German Ambassador Paul Albert Resch and President Harry E. Brautigam of the Central American Bank of Economic Integration (CABEI) signed an agreement intended to promote emission-free energy sources in Central America.
ï¿½On this occasion, the signed agreement will allow us to stimulate the use of sources of energy that are friendlier to the atmosphere, and thus to reduce the dependence on fossil fuels and to conserve the emissions of gases,ï¿½ Brautigam said December 14.
The cost of oil purchased for Central America increased to US$5.19 million in 2005 from US$2.38 million in 2002.
The new agreement brings the total portfolio of German assistance to the region, via development bank Kreditanstalt fur Wiederaufbau (KfW), to more than US$103 million.