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 IFC join forces to promote private participation in the sustainable development of the region
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July 15, 2021.- In order to facilitate collaboration towards promoting private participation in priority projects in Central America, the Central American Bank for Economic Integration (CABEI) and the International Finance Corporation (IFC) of the World Bank Group signed a Memorandum of Understanding.
Through this cooperation agreement, both institutions will work on identifying and preparing infrastructure projects, as well as on sharing knowledge that facilitate greater participation of the private sector in supporting sustainable and resilient growth in the region. CABEI and IFC will focus on promoting innovative opportunities and initiatives, such as Public-Private Partnerships (PPPs).
CABEI's executive president, Dr. Dante Mossi, stressed that: "we will join efforts and experiences to make the most of the opportunities and resources of the region, promoting innovative projects that break paradigms and benefit the most vulnerable population, contributing to reducing poverty and inequality, increasing more and more private investment for development."
Georgina Baker, IFC Vice President for Europe, Central Asia and Latin America and the Caribbean, highlighted that "IFC seeks to partner with other development financial institutions to open investment opportunities for the private sector and meet the critical infrastructure needs of the region." In this regard, Baker stressed that "private participation in development of infrastructure is important to promote economic development of the region, and can complement public funds in a fiscally constrained post pandemic environment."
The IFC is the leading international development institution dedicated to promoting economic and social development through encouraging private sector participation in emerging countries. CABEI is an international multilateral development financial institution. Its resources are continuously invested in projects that foster development to reduce poverty and inequality; strengthen regional integration and the competitive insertion of its member countries in the global economy; providing special attention to environmental sustainability.
