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.
Kingdom of Spain makes second principal payment to CABEI
This principal payment reaffirms CABEI's profile with a solid credit and financial outlook.
Tegucigalpa, April 6th, 2021.- The Kingdom of Spain made the second capital installment payment to the Central American Bank for Economic Integration (CABEI) in the amount of US$4 million, as a sign of its financial commitment to the region in times of emergency due to the COVID-19 pandemic.
The disbursement corresponds to the second installment of the (5) annual and consecutive capital installments payable in cash corresponding to the capital subscription made by Spain within the framework of the Bank's VIII General Capital Increase.
Despite the economic difficulties and public health problems faced by the Central American region in 2020 due to the COVID-19 pandemic and the damage caused by hurricanes Eta and Iota, the multilateral organization has received solid support from its member countries, which has enabled the Bank to respond to its members efficiently, said CABEI's Executive President, Dr. Dante Mossi.
Since joining CABEI, Spain has promoted trade and investment with Central America, strengthened cooperation ties with the region and continued to contribute to financial and institutional consolidation for the isthmus through the establishment of support and financing mechanisms with CABEI.
Among the contributions to date are the Administration of the Honduran Debt Conversion Program Countervalue Fund with Spain and the MIPYME ICO financing line for Investments and/or Liquidity and Spanish Exports.
CABEI has expressed its interest in opening a representative office in Spain in 2021, with the objective of strengthening its presence in Europe. Spain was the fifth extra-regional country to join CABEI. Since joining CABEI in 2005, the Bank has managed a total of approximately US$477.9 million from different institutions in Spain.
