Summary of operations
Road Infrastructure: Financing for 148 kilometers of highways.
Energy: Financing for the generation of 80 megawatts of clean renewable energy.
Agro Sector: US$ 60 million for the strengthening of the agricultural sector with a sustainable technological approach.
A 228% increase in the amount estimated in the 2021-2026 country strategy, reaching US$ 1.8 billion. In the previous five-year period the disbursement amounted US$ 533.9 million.
PROJECTS
Coral Highway Project
It consisted of the construction of a 70-kilometer-long, 4-lane highway, for which financing of US$70.0 million was allocated.
Improvement and Expansion of the Eastern Road Corridor for road sections
San Pedro de Macorís-La Romana Section, La Romana Beltway Section and Eastern Tourist Boulevard Section, totaling 78 kilometers in length and representing the best road infrastructure in the country.
Palomino Hydroelectric Project
With a clean and renewable energy generation capacity of 80 megawatts, it is located in the Province of San Juan. For its execution, the Bank allocated financing for a total amount of US$ 130.0 million
Construction of a 50-kilometer gas pipeline in San Pedro de Macorís
Loan in favor of AES Dominicana for a total amount of US$54.00 million.
Montegrande Multipurpose Dam Project Phase III
With current financing of US$249.6 million
CABEI to issue local currency bonds for a total amount of up to US$200 million in three different markets in the region: Costa Rica, Dominican Republic, and Honduras
CABEI AG instructs its Board of Directors and Management to prepare an action plan to increase the Bank's capital from US$7,000.0 million to US$10,000.0 million.
Tegucigalpa September 3, 2021.- The Central American Bank for Economic Integration (CABEI) completed the registration of its Medium-Term Note Program in the Republic of Costa Rica and the Republic of Honduras, in addition to maintaining its local issuance program in the Dominican Republic. These approvals will allow CABEI to issue in the fourth quarter of the year in these three countries of the Central American region (SICA), allowing for greater dynamism in the capital markets and offering investors the opportunity to diversify their portfolios with a multilateral issuer with the best credit quality in the entire Latin American region.
These transactions reaffirm the Bank's commitment to become a recurring issuer participating in the region's capital markets, this being the first step towards issuance that will allow the market to achieve greater depth and liquidity, while seeking to broaden its investor base. The Bank will issue in Costa Rican colones, Dominican pesos and lempiras, for a total aggregate amount of up to US$200 million, and the characteristics of each issue in terms of amount, term and yield will depend on the particular conditions of each market at the time of issuance.
The objective of these issues is to offer investment alternatives in local currency to investors and ensure that the resources raised are part of the support that the bank provides to different areas of the economy such as housing, productive sectors, micro, small and medium enterprises, infrastructure and other projects, converting these investments into strategic capital for economic reactivation, providing key support in the recovery of the region after the effects of the pandemic.
CABEI Executive President, Dr. Dante Mossi highlighted that "this innovative way of promoting financial integration in the Central American region through bond issues in local currency ratifies CABEI's solid commitment to improving the quality of life of Central Americans by financing projects in the public and private sectors. Dr. Mossi added, "Central American investors will not only have the opportunity to support the region's economic and social development but will also be able to invest in bonds issued by CABEI, which has the best credit rating in all of Latin America”.
For more information on upcoming issues, please write to: investors@bcie.org.
