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 seeks to expand opportunities and investments for the Central American region in Spain
The work tour promoted the products, financial services and business model offered by the Central American region’s development bank.
Madrid, February 22, 2019.- The announcement of investment for an amount of 80 million euros to promote exports and imports of Spanish companies in the member countries of the Central American Bank for Economic Integration (CABEI), as well as increasing the development of renewable energy are some of the main results of the work tour carried out in Spain by CABEI Executive President, Dr. Dante Mossi.
On the first day of his visit, Dr. Mossi met with representatives of Spain's private, public and academic sectors with the aim of promoting the Bank's competitive, operational and financial advantages, as well as its standing as the most relevant multilateral organization for the Central American region. Among the Spanish companies contacted were TYPSA, INDRA, IDOM, INCLAM, ACS Industrial, Tecniberia, Grupo Puentes, Banco Santander, Acciona Energía and Iberia.
Dr. Mossi also held meetings with the President of the Spanish Development Finance Institution (COFIDES), Mr. José Luis Curbelo; the President of the Spanish Export Credit Agency (CESCE), Fernando Salazar; the Secretary of State for International Cooperation and for Ibero-America and the Caribbean (SECIPIC) and Director of the Spanish Agency for International Development Cooperation (AECID), Mr. Juan Pablo de Laiglesia; and the Executive President of CAF - Latin American Development Bank, Mr. Luis Carranza.
Subsequently during the second stage of his tour, Dr. Mossi signed a memorandum of understanding with the Consortium for the Promotion of the Spanish Renewable Energy Industry to promote the collaboration and participation of both organizations in the promotion and development of "Green Energy" in CABEI's line of action.
Likewise, the CABEI Executive President met with the President of the Official Credit Institute (ICO), Jose Carlos García de Quevedo; the Deputy Manager of the Development Promotion Fund (FONPRODE), Rodrigo Tilve; BBVA Managing Director of Public Finance & Institutional Clients, Anselmo Andrade; and BBVA Managing Director of Global Public Finance, John Rutherford.
Also noteworthy is the meeting held this Friday with the Ministry of Economy and Business (MINECO), specifically with Minister Nadia Calviño; the Secretary of State for Economy and Business, Ana de la Cueva Fernández; the General Secretary of the Treasury and Financial Policy, Carlos San Basilio; and the Advisory Member of the General Sub directorate of Multilateral Financial Institutions, Javier Fernández Méndez de Andés.
President Mossi highlighted the enormous potential of the countries of the Central American region and expressed the Bank's great interest to intensify relations and continue working to be a benchmark for sustainable development and regional integration.
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