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 and ICO sign 80 million euro agreement to finance investment projects
The financial support of CABEI and ICO to the region from 1991 to date amounts to US$252.4 million; the most notable contribution has been providing support to MSMEs.
Tegucigalpa, February 22, 2019.- The Central American Bank for Economic Integration (CABEI) and the Spanish Official Credit Institute (ICO) signed a loan agreement for an amount of up to the equivalent in dollars of EUR 80 million, which will be aimed at financing investment and liquidity operations to promote exports and imports of Spanish companies in the Bank's member countries.
The contract, which was signed today in Madrid by CABEI Executive President, Dr. Dante Mossi, and ICO President, Mr. José Carlos García de Quevedo, will enable CABEI to channel resources in order to increase commercial exchange between Spain and the Bank's member countries.
At the ceremony, President Mossi recalled that since the 1990s both institutions have worked to help strengthen the relationship among CABEI, Spain and the Central American region.
Financing to companies will be channeled either through the Intermediary Financial Institutions established in these countries or directly to specific projects through CABEI. A part of the resources will be used to partially finance the Six Lane Expansion Project of the Las Playas Corridor, Section I La Chorrera-Santa Cruz in Panama; a work that will benefit the development of strategic zones of the country.
This third agreement is added to the two previous ones signed recently; the first was signed in March 2017 for an amount of 25 million euros and the second in May 2018 for an amount of 30 million euros.
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