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 Executive President visit to the Dominican Republic comes to an end
CABEI Executive President Dante Mossi spoke about the Bank's financial solutions as a multilateral development resource source.
Tegucigalpa, July 8, 2019.- With a tour of development projects and meetings with representatives of the Dominican Republic's private sector, today the Executive President of the Central American Bank for Economic Integration (CABEI) Dr. Dante Mossi concluded his visit.
On his first visit to the country subsequent to his appointment at CABEI, President Mossi met with the Dominican Republic's President, Mr. Danilo Medina, at his presidential office.
During the meeting, President Mossi was accompanied by Finance Minister, Donald Guerrero; Public Credit General Director, Athemayani Del Orbe; Deputy General Director of Public Credit, Cynthia Arias; Credit Negotiations Director, Soraya Asunción; Debt Management Advisor, Virginia Bello; and CABEI Director for the Dominican Republic, Clara Quiñones.
Dr. Mossi commented that this mission had the purpose of, "Exploring ways to support development banking with longer-term local currency financing and to increase the use of hybrid public transportation vehicles." In addition, CABEI expects that its interventions will support the country to achieve the Sustainable Development Goals (SDGs).
CABEI consolidates its presence in the country
Since the incorporation of the Dominican Republic into CABEI in 2007, the institution has consolidated its presence by financing projects that contribute to the sustainability of economic growth and the strengthening of aspects such as social inclusion and environmental sustainability.
In this sense, Dr. Mossi toured the Monte Grande Project, the Coral Highways and the Eastern Tourism Road Corridor; all productive infrastructure works currently financed by the Bank. The "Multiple Project of the Monte Grande Dam, Phase III," will guarantee the irrigation of 400 thousand new land initiatives and will improve the agricultural production of an additional 305 thousand works through drip and pipe irrigation.
Likewise, the Monte Grande project aims to increase access to potable water, control floods and prepare the conditions for the generation of electric power, development of aquaculture production, promotion of water sports and fostering of tourism.
Finally, the work agenda included meetings with banking executives and energy project developers.
