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 and OEI sign an agreement to collaborate on youth-related actions
They will jointly develop a report on the youth employment initiative as an additional component for sovereign guaranteed projects under the Emergency COVID-19 Support and Preparedness Program and its economic revival.
Tegucigalpa, February 04, 2021.- The Central American Bank for Economic Integration (CABEI) and the Organization of Ibero-American States for Education, Science and Culture (OEI) signed this Thursday a collaboration agreement to promote the execution of work in areas such as innovation, technology and the training of young talent.
CABEI Executive President, Dr. Dante Mossi, underscored the importance of this union, which will make it possible to materialize the strategic purpose of creating employment opportunities and working together for a future that promotes the protection of the vulnerable youth sector.
The agreement was signed in a virtual meeting by the Secretary General of the OEI, Mr. Mariano Jabonero, and CABEI Acting Executive President, Mr. Jaime Díaz, who stated that one of the main objectives of the agreement is the implementation of joint actions for cultural and educational cooperation projects aimed at advancing the link between culture, education and development.
He added that the agreement will develop research studies focused on Central America's employment and education systems, with a special focus on productivity, competitiveness and human resource training.
For his part, the Secretary General of the OEI, Mr. Mariano Jabonero, Secretary General of the OEI, emphasized that the implementation of this collaboration agreement is part of one of the OEI's strategic lines of activity, which associates the improvement of productivity and competitiveness with quality, inclusive and equitable education, for everyone equally and, in addition, "aligned with the social and economic development needs of the region," he said.
At the same time, the agreement contemplates work on the Youth Employment Program and its report to be developed jointly by CABEI and OEI on the Youth Employment initiative in the Bank's 12 partner countries, as an additional component for projects with sovereign guarantee within the framework of the Youth Employment Program. Emergency Support and Preparedness Program for COVID-19 and its economic reactivation.
CABEI was represented by Jorge Mariné, Director for Spain; Maximiliano Alonso, Director for Argentina and Florencia Castro-Leal, Chief Economist.
