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.
1.4 million Hondurans will have access to the COVID-19 vaccine with CABEI resources
With a US$35 million loan, Honduras will purchase 2.8 million vaccines to combat the virus.
Tegucigalpa, Honduras March 11, 2021.- The Central American Bank for Economic Integration (CABEI) today approved US$35 million in financing to the Republic of Honduras for the acquisition of 2.8 million COVID-19 vaccines to vaccinate 1.4 million people at a rate of two doses per person.
This will partially support the implementation of the Republic of Honduras' National COVID-19 Vaccine Introduction Plan, whose objective is to vaccinate approximately 4.6 million inhabitants defined as eligible for vaccination; the financing will cover approximately 30.8% of this population.
"We are very excited to inform the Honduran people that the Bank is supporting the Government's efforts to bring the COVID-19 pandemic under control and move towards the country's economic reactivation," said CABEI Executive President, Dr. Dante Mossi.
The financing includes the acquisition of vaccines, supplies, logistics and communication campaigns. This loan is part of CABEI's Emergency Support and Preparedness Program for COVID-19 and Economic Reactivation, and is in line with the 2020-2024 Institutional Strategy, contributing to the Human Development and Social Inclusion strategic axis of guaranteeing the Central American people's wellbeing and quality of life.
The loan was approved for a term of up to 20 years, including a five-year grace period, with competitive financial conditions and in compliance with the corresponding national regulations.
