Posted in | News | Biofuels

IDB Approvals US$750K for Biofuels Production in Central America and the Caribbean

The Inter-American Development Bank has announced the approval of a US$750,000 donation from SECCI funds for developing feasibility studies of biofuels production initially in Haiti, El Salvador, and the Dominican Republic.

SECCI will support countries in the region in order to develop its biofuel industry.

The studies will be carried out by Brazil’s Getulio Vargas Foundation (FGV) within the framework laid out by the US-Brazil Initiative for Biofuels in Central America and the Caribbean. FGV has established a successful methodology that has been applied in similar studies in Brazil.

“The application of this uniform methodology will allow the establishment of the limitations advantages of each of the countries and if it were possible to make full use of these conditions to launch the repositioning of the region as a competitive force in the international market,” said Laura Natalia Rojas, one of the leaders of the IADB team.

“For the United States and Brazil, the largest producers and consumers of ethanol in the world, it’s indispensable to develop a competitive and sustainable global market,” said Arnaldo Vieira de Carvalho, the other team leader. “Central America and the Caribbean have very good potential in this new market due to their geographic location and the benefits given to them by international treaties such as the Dominican Republic and Central American Free Trade Agreement (DR-CAFTA).”

The program will be conducted in coordination with Brazil’s Export and Investment Promotion Agency (APEX) and the corresponding authorities in each country. The activities will be carried out by a team of technical, financial, and commercial experts, provided by the Getulio Vargas Foundation. This team will apply the same methodology to all beneficiary countries in the program.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type