CABEI holds 48th Assembly of Governors

La Romana, Dominican Republic, April 11, 2008

CABEI’s 2007 financial statements show record mobilized resources and loan disbursements, totaling US$2,892 million and US$1,475 million respectively. The Board of Governors of the Central American Bank for Economic Integration (CABEI), consisting of high-level representatives from the bank’s 12 member countries, held their annual assembly on the 9th and 10th of April, 2008. Of note at this year’s event was a report on CABEI’s financial statements for 2007. The report, audited by Deloitte & Co., showed record figures in mobilized resources and loan disbursements, $US2,892 million and $1,475 million respectively. These figures demonstrate the positive role CABEI played during the year towards the development of Central America. In 2007, CABEI diversified its portfolio and maintained its strategic vision of regional integration. The Bank carried out a total of US$352.9 million in approvals for Panama, Colombia, and the Dominican Republic. This sum represented 12% of total mobilized resources during the year. CABEI also looked to diversify its funding source and reduce costs by issuing bonds in different regional and international markets. In 2007, the Bank issued bonds worth US$350 million in Mexico, Honduras, and Thailand. According to CABEI Executive President Dr. Harry E. Brautigam, the bank’s recent success is party attributed to the development of financial solution strategies for member countries. Also of consequence was the implementation of ideas, initiatives, and products that foster growth in the sectors critical to Central American development and integration. “By this manner, in 2007 the design process for sector strategies advanced, and at the same time we promoted investment banking operations and supported micro, small, and medium businesses” Likewise, Dr. Brautigam stated that “a significant amount of resources were channeled towards pre-investment in order to create projects that contribute to CABEI’s regional efforts for the coming years”. Along with the latter achievements, in 2007 CABEI improved its rating with three international risk rating agencies. Standard & Poor’s upgraded the Bank’s rating from BBB+ with a positive outlook to A- with a stable outlook. The Japan Credit Rating Agency (JCR) gave CABEI a rating of A+ with a stable outlook, improving its previous rating of A with a stable outlook. Fitch Ratings improved CABEI´s rating from BBB+ with a stable outlook to A- also with a stable outlook. These results indicate that CABEI is consolidating a positive credit profile and positioning itself as an organization with one of the best risk levels in Latin America. 2007 CABEI Results Ordinary Loan Portfolio: US$3,678.2 million Total Mobilized Resources: US$2,892.0 million Total Loan Disbursements: US$1.475.00 million Net Profits: US$80.7 million Total Approvals according to each CABEI Strategic Axis: Poverty Reduction: US$319.4 million. Globalization and competitive insertion into the global economy: US$1,544.2 million. Regional Integration: US$1028.4 million.