Panama became a non-founding regional CABEI member in 2007. At the close of 2020, it had a shareholding of 4.84% and US$ 64.00 million in capital contributions.
Its subscribed capital is US$ 358.40 million. Between 2016-2020, Bank approvals to the country reached the US$ 1.8 billion, while disbursements for that same period totaled US$ 1.7 billion. Specifically in 2020, CABEI channeled approvals amounting to US$ 400.0 million and disbursements totaling US$ 738.0 million to meet the population’s needs stemming from the COVID-19 emergency and to support economic recovery.
CABEI makes new US$25 million disbursement to BICSA
The multilateral made a second disbursement of US$25 million, which is expected to benefit more than 4,950 people.
Panama City, November 14th, 2022.- In orderto support micro, small and medium-sized enterprises in their economic reactivation and finance their working capital, the Central American Bank for Economic Integration (CABEI) made a new disbursement of US$25 million to Internacional de Costa Rica, S.A. (BICSA).
These resources will meet the needs of companies in the Republic of Panama involved in the trade, manufacturing, warehousing and transportation sectors, benefiting more than 4,950 employees, 38% of whom are women.
"MSMEs are the main engine of the economy as they are a source of employment for thousands of people, for this reason it is essential to support them, as the development bank we will continue to support our member countries in protecting and generating jobs that translate into better life opportunities for the population," said CABEI Executive President, Dr. Dante Mossi.
The disbursement amount of this Global Credit Line between CABEI and BICSA reaches US$55 million in 2022. This initiative is part of the Bank's Productive Sectors Development Program, whose purpose is to increase the financial system's participation in financing the region's productive sectors in order to increase competitiveness, productivity and job creation for companies in the beneficiary countries.
