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 approvals for Honduras exceed $500 million for economic reactivation
CABEI has approved different projects as support to overcome the COVID-19 crisis and to reactivate the country's economy.
Tegucigalpa, November 11th, 2020. The Central American Bank for Economic Integration (BCIE), has provided financial support to Honduras with loans of up to US$565 million for the crisis and post-crisis period resulting from COVID-19. These resources have been oriented to strengthen the capacities to prepare and respond to the health emergency and to support the economy's reactivation process.
Additionally, CABEI has provided medical supply donations such as test and sampling kits equivalent to US$433,980 and other support initiatives such as the Non-Reimbursable Cooperation at the onset of the pandemic and the donation for a triage center totaling US$1.5 million.
Within this financing, the Program for Economic Reactivation through MIPYME stands out, for an amount of US$300.0 million, which will channel financing resources with favorable conditions and guarantee funds to approximately 9,252 MIPYME, with which it is expected to contribute to maintaining the employment of 101,772 people who work in this sector.
"In CABEI it is a priority to support the Governments of the Central American region to face the economic recession resulting from the COVID-19 pandemic and the Honduran State is no exception, especially focused on generating impact on the most vulnerable sectors," said Executive President Dr. Dante Mossi.
In addition to the financing destined to address the COVID-19 emergency, CABEI has a project portfolio under implementation in the sectors of road infrastructure, education, agricultural development, legal security, among others, which contribute to improving the productive infrastructure and human and social development of the country.
CABEI will continue working to improve the quality of life of Central Americans, supporting programs and projects that encourage human development and social infrastructure, modernizing the institutional framework and guaranteeing the transparent use of economic resources.
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