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 approves CABEI's Agreement on Immunities and Privileges
Spain is the only European member of CABEI. It holds 4% of the subscribed capital.
Tegucigalpa June 29, 2022.- On Monday, the Spanish Council of Ministers approved the Agreement authorizing the signing and provisional application of the Agreement on Immunities and Privileges between the Kingdom of Spain and the Central American Bank for Economic Integration (CABEI), as a step towards the opening of its office in the country.
By means of this agreement, CABEI is granted the facilities, immunities and prerogatives necessary for the performance of its activities in Spain, in accordance with the provisions of Chapter VI of the Bank's Constitutive Agreement.
The Executive President of the multilateral development institution, Dr. Dante Mossi, commented: "Although we have been working together for 17 years, the opening of an office in Spain is a firm step forward in our Institutional Strategy to be closer to the Bank's partner countries, strengthening relations of cooperation and trust, whose main beneficiaries are Central Americans.”
Mossi explained that "Spain is a strategic partner in the implementation of key projects for the economic development of Central American institutions and companies. Through CABEI, the support of the Kingdom of Spain is notable in sectors such as MSMEs, water and sanitation projects, hospital improvement and equipment, among others.” CABEI's headquarters in Madrid is the first office of this multilateral institution and the gateway to the European continent.
CABEI's decision to open an office in Madrid is considered an opportunity to consolidate Spain's role as a link between Central America and Europe. This office is expected to enable, in the short term, a closer relationship between Spanish companies interested in this area and the main Central American multilateral financier.
