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.
Alliance to strengthen foreign trade
CABEI signs a framework agreement that will increase commercial activity between the Central American region and Spain.
Tegucigalpa, February 21, 2019.- As part of the working tour of the Executive President of the Central American Bank for Economic Integration (CABEI), Dr. Dante Mossi, today in Madrid, Spain, a memorandum of understanding was signed with the Spanish Development Finance Institution (COFIDES) to link and strengthen the processes in order to boost foreign trade.
Through the agreement, both institutions seek to establish the bases to coordinate actions to support programs and projects of common interest in order to promote a culture favorable to productive and commercial implementation abroad, strategic alliances and international business cooperation.
In addition, this alliance will establish exchange mechanisms on aspects of development in sectors and regions that allow the identification of business and trade opportunities with the aim of strengthening cooperation efforts between Spain and the countries of the region.
During his speech, President Mossi said that this agreement is an example of the continuous work to strengthen the exchange of experiences, good practices and knowledge with first level entities.
He added that with the signing of these agreements, CABEI hopes to continue promoting its work in the integration and the economic and social development of the region as a global destination of opportunities and investment.
After the agreement signing ceremony, which took place at the COFIDES headquarters in Madrid, the President of COFIDES, José Luis Curbelo, stated that, "A large part of the actions promoted by CABEI and COFIDES are complementary; this agreement will strengthen our coordination with the objective of promoting more projects that generate a positive impact and promote sustainable development."
COFIDES is a public-private partnership that since 1988 offers financial support to the investments of Spanish companies abroad. It exclusively manages the FIEX and FONPYME funds on behalf of the Ministry of Commerce, which is attached to the Ministry of Industry, Commerce and Tourism. Likewise, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Santander, Banco Sabadell and the CAF-Development Bank of Latin America also participate in its shareholding.
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