Spain became an extra-regional CABEI member in 2005. At the close of 2020, it has a subscribed capital of USD280.00 million with capital payments of USD60.00 million and a shareholding of 4.23%.
The partnership between CABEI and Spain provides financial support to the Central American region through the signing of various financial cooperation contracts for an amount of USD546.7 million. Of these funds, USD408.4 million have been channeled through agreements signed with the Instituto de Crédito Oficial (ICO, Official Credit Institute) and the remaining USD138.3 million is provided by the Spain-Honduras Debt Conversion Agreement, held with the Ministry of Economy and Business. During 2020, a financing agreement was signed with ICO for an amount of up to EUR 100.0 million (USD112.5 million) to finance investment and/or liquidity and export/import operations of Spanish companies in CABEI member countries. The loan was signed on June 25, 2020 through a document sharing procedure. Likewise during 2020, a total of USD134.9 million was raised from ICO through the valid agreements between both institutions.
CABEI announces the opening of office in the Republic of China (Taiwan)
Given the adverse international economic context, CABEI will strengthen its presence to promote the region's competitiveness.
Tegucigalpa, April 01, 2020.- The Board of Directors of the Central American Bank for Economic Integration (CABEI) expressed its support for the opening of an office in the Republic of China (Taiwan) in order to promote the region's competitiveness, strengthen business relationships, promote and attract investment, manage potential members and contribute to the commercial trade of goods and services among the countries.
Taiwan, which has been a member of the Bank since 1992, was one of the first extra-regional members to join CABEI and has the highest contribution of subscribed capital among the extra-regional member countries.
CABEI Executive President, Dr. Dante Mossi, stated that, "This initiative reaffirms CABEI's commitment to continue supporting the countries of the region, especially in the face of adverse moments in the international economy, by providing an exchange of innovative financial products and services with the public and private sectors of each country and the region."
He added that, "It is also important to highlight the punctual support that the Republic of China Taiwan has given to the International Health Emergency, providing invaluable contributions to a number of the countries of the region in order to establish and strengthen actions to contain the Coronavirus pandemic."
Taiwan has a long history of supporting the region; it provided CABEI the opportunity to issue and place bonds for the first time on the international market. Through 2019, the Bank has made 18 issues for an amount of US$1.90 billion in the Taiwanese capital market. Similarly, it has made 8 issues in the Formosa market in Taiwan.
The cooperation that this country has provided through the Bank has focused mainly on such areas as Food Security, the Agricultural Sector, Education and MSMEs Financing. Likewise, it has integrated joint efforts with the International Cooperation and Development Fund (TaiwanICDF).
