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 approves emergency cooperation to Costa Rica to address damages caused by heavy rains
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· A donation of $500,000 will be executed by the National Commission for Risk Prevention and Emergency Attention (CNE) for the purchase of food, hygiene products, medicines, among others.
Mérida, Yucatán September 21st, 2022. – The Central American Bank for Economic Integration (CABEI) approved a $500,000 non-reimbursable technical cooperation grant to help meet the most urgent needs of the populations affected by the heavy rains in Costa Rica in recent weeks.
The donation, which will be executed by the National Commission for Risk Prevention and Emergency Attention (CNE) for the purchase of food, hygiene and cleaning products, medicines and other materials required for shelters, as well as the rental of machinery for civil protection works, is part of the emergency and natural disaster aid modality granted by CABEI as support to its member countries to address unforeseen situations such as floods, fires, earthquakes, pandemics, among others, in a timely manner.
"We are in solidarity with the people of Costa Rica, especially with the victims and fatalities caused by the incessant rains that have occurred during the last few weeks in practically the entire national territory, so we are pleased to have approved this emergency donation in a very short time so that the authorities can continue with the necessary actions to keep Costa Ricans safe and in optimal conditions," said CABEI Executive President, Dr. Dante Mossi.
According to reports from the CNE, there have been incidents such as rivers overflowing in urban areas in 114 points and landslides in 42, in addition to the fact that shelters have had to be set up to attend more than 200 victims or populations at risk. On the other hand, this Sunday, the Government of the Republic decreed national mourning due to a road accident caused by a landslide caused by the rains that left 9 dead and 50 injured.
Due to the structural damage already reported and the fact that the authorities foresee more weeks of heavy rains, the Government announced its interest in exploring financial support from CABEI to mitigate the effects of the crisis and invest in urgent infrastructure to avoid further fatalities.