Mexico has been a non-regional CABEI member since 1992 with an authorized stake of USD306.25 million in the Bank's share capital and capital contributions of USD76.56 million, ranking as the third largest shareholder within the group of non-regional members with 5.03%.
The contribution that Mexico channels to the Central American region through CABEI is based on various financial cooperation instruments with Banco Nacional de Comercio Exterior S.N.C. (Bancomext) for a total amount of USD520.8 million. The relationship between the Bank and this country was solidified in 2008 with the launching of the Central American Social Housing Development Program. It falls under the framework of the Mesoamerican Integration and Development Project (formerly Plan Puebla Panamá). Since that date, the Mexican government has made resources available to develop a sustainable market for long-term housing finance in the Central American region that addresses the housing deficit and future needs in this area. Throughout the Program's existence, 59 disbursements have been made through 14 intermediary institutions. In total, 192.7% of the initial financing available has been channeled, benefiting a total of 8,032 low- income households, which can now enjoy a more dignified home.
CABEI supports COVID-19 contingency plan in the Trifinio region
The Bank's US$25 thousand contribution aims to alleviate the financial burden in the face of the coronavirus emergency.
Tegucigalpa, March 25, 2020.- In order to contribute to the containment of the health crisis caused by the coronavirus, the Central American Bank for Economic Integration (CABEI) has granted a contribution in the amount of US$25 thousand to develop the COVID- 19 Prevention and Containment Project in the Trifinio Plan region, which includes border communities of the Republics of El Salvador, Guatemala and Honduras.
The latter fact was confirmed by CABEI Executive President, Dr. Dante Mossi, who stated that, "The Bank is committed to providing a prompt and agile response to its members in order to face the economic consequences of the coronavirus pandemic."
In this regard, the resources will contribute to fostering the implementation of measures aimed at supporting the most vulnerable sectors in the face of the current crisis caused by the coronavirus pandemic. Recently, CABEI authorized a disbursement of US$90 million to strengthen the liquidity of Costa Rican state banks and granted a donation of US$8 million to the Central American Integration System within the framework of a Regional Contingency Plan to deal with this health and financial emergency.
About the Project
Pursuant to the Trifinio Plan project, the initiative will implement a local strategy to combat the virus in alliance with Municipal Governments and Local Emergency Committees of the area. Plan objectives include the execution of information and epidemiological documentation actions for the communities and support to municipal and national authorities.
Another objective involves the development of an integral awareness raising campaign for the population, in addition to emergency support for food, water, hygiene utensils and other primary use goods required by the affected people, as well as logistics for the quarantined population at the borders of the Trifinio Region. Likewise, support will be provided to municipalities and emergency committees through the provision of vehicles, fuel and medical support.
