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 to open office in Spain in order to strengthen its presence in Europe
Its objective is to consolidate its presence and become a benchmark for Central America in Europe.
Tegucigalpa. April 1, 2020.- During the March Board of Director's meeting, the Central American Bank for Economic Integration (CABEI) expressed its support for the opening of a CABEI office in Spain with the aim of strengthening its presence in Europe.
Spain was the fifth non regional member country to join CABEI. Since its incorporation into the Bank in 2005, the Bank has managed approximately a total of US$477.9 million from different Spanish institutions.
Pursuant to CABEI Executive President, Dr. Dante Mossi, “The office will bring Central America closer to Spain and Europe, in addition to fostering the mobilization of financial resources from institutional sources and capital markets with special emphasis on resources for operations that include climate change mitigation and adaptation actions, as well as supporting the process of incorporating new members.
Given the adverse international economic context, the Bank reaffirms its commitment to reactivate the economy of the region and other member countries. To that end, the Bank's office in Europe will provide significant support.
With regard to Spain, since its accession and through the establishment of various support and financing mechanisms with CABEI, it has promoted trade and investment with Central America, strengthened cooperation ties with the region and continued to contribute to the financial and institutional consolidation for the benefit of the Isthmus.
Current noteworthy contributions include Equity Fund Management of Spain's Debt Conversion Program to Honduras, the MSME ICO Line for Investment Financing and/or Liquidity, and Spanish Exports.