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The EcoMicro Program (EcoMicro)

The EcoMicro Program (EcoMicro) is a Technical Cooperation Facility executed by the Inter-American Development Bank’s IDB Lab and co-financed by Global Affairs Canada and beneficiary financial institutions.

It is established to assist with the development of green finance products that facilitate access to sustainable, low-cost energy or adaptation technologies for Micro, Small and Medium Enterprises (MSMEs) and low-income households in Latin America and the Caribbean (LAC). 

The objective of Grenada Development Bank’s (GDB) partnership with EcoMicro is to develop new finance instruments to capitalise on opportunities in green financing, while adjusting our risk management models to include climate change risk by incorporating climate impact assessment into our internal policies and operations.

GDB is partnering with international consultants MicroEnergy International (MEI) in consortium with Analistas Financieros (Afi) and Perspectives for Climate Change (PCC) who will deliver technical assistance services across the following areas: 

• Design & Implementation of Green Finance Products 

• Analysing the Vulnerability of GDB’s Loan Portfolio to Climate Change 

• ‘Greening GDB’ - Reducing the Bank’s Environmental Impact

• Knowledge Management and Communications.

Facts about this project:

• This is the nineteenth EcoMicro project to be undertaken and the first in Grenada

• This is the first EcoMicro project that will pilot both mitigation and adaptation finance through the placement of at least two distinct green finance products in the market

• It is also the first time that EcoMicro will work with a development bank, thus testing public-private approaches to catalysing the green finance ecosystem by leveraging the GDB’s role as the leading provider of development finance in Grenada.