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 and ICO sign 80 million euro agreement to finance investment projects
The financial support of CABEI and ICO to the region from 1991 to date amounts to US$252.4 million; the most notable contribution has been providing support to MSMEs.
Tegucigalpa, February 22, 2019.- The Central American Bank for Economic Integration (CABEI) and the Spanish Official Credit Institute (ICO) signed a loan agreement for an amount of up to the equivalent in dollars of EUR 80 million, which will be aimed at financing investment and liquidity operations to promote exports and imports of Spanish companies in the Bank's member countries.
The contract, which was signed today in Madrid by CABEI Executive President, Dr. Dante Mossi, and ICO President, Mr. José Carlos García de Quevedo, will enable CABEI to channel resources in order to increase commercial exchange between Spain and the Bank's member countries.
At the ceremony, President Mossi recalled that since the 1990s both institutions have worked to help strengthen the relationship among CABEI, Spain and the Central American region.
Financing to companies will be channeled either through the Intermediary Financial Institutions established in these countries or directly to specific projects through CABEI. A part of the resources will be used to partially finance the Six Lane Expansion Project of the Las Playas Corridor, Section I La Chorrera-Santa Cruz in Panama; a work that will benefit the development of strategic zones of the country.
This third agreement is added to the two previous ones signed recently; the first was signed in March 2017 for an amount of 25 million euros and the second in May 2018 for an amount of 30 million euros.
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