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 promotes business opportunities in its member countries
In alliance with the Spanish Development Finance Company (COFIDES) and the Exporters and Investors Club, CABEI seeks to promote business opportunities in the Central American region.
Tegucigalpa, February 20, 2020.- In order to promote investment opportunities, while generating projects in such sectors as infrastructure, energy, rural development and the environment, a delegation from the Central American Bank for Economic Integration (CABEI) participated in a work day with the Spanish Development Finance Company (COFIDES) and the Exporters and Investors Club in Madrid, Spain.
CABEI Executive President Dr. Dante Mossi commented that the initiative reinforced the Bank's actions in promoting regional economic and social development and aimed to encourage Spanish companies to take advantage of the existing synergies regarding new business development and the Bank's knowledge and experience in the region.
Dr. Mossi stated that, "The event, which focused on gatherings and meetings with important executives and members of the Exporters and Investors Club, as well as representatives from significant Spanish business sectors, was a great opportunity to publicize the competitive advantages, range of products and clients, and success stories of the participating companies."
A clear example of CABEI's relationship with Spain has been the administration of Spain's Debt Conversion Program to Honduras, which in 2018 executed 23 projects with an approximate amount of US$65 million, targeting the strategic axes of Education, Environment and Energy.
During the Program's second stage, 3 projects have been approved targeting the strategic axes of Communication, Transportation and Environment for an amount of US$71.2. In addition, at least 8 contracts with Spanish companies are currently awaiting approval.
A total of 85 Spanish companies have participated in the international public bidding processes conducted by CABEI during the program's two stages.
Since its founding and through 2019, the Bank has approved US$38.06 billion to support economic progress, social development and regional cooperation in the framework of Central American integration. With respect to disbursements to the region made from Multilateral Development Banks, CABEI provides approximately 50 percent.