156,513 Honduran families benefited by the Honduran Relief Bond for Vulnerable Families Affected by Natural Phenomena due to Climate Change
Tegucigalpa, November 10, 2021.- The Central American Bank for Economic Integration (CABEI), in response to opinions expressed in some media about the Relief Bond Program for Vulnerable Families Affected by Natural Phenomena Resulting from Climate Change in Honduras, communicates the following:
In accordance with its mission to promote the integration and balanced economic and social development of its member countries, the Bank's Board of Directors approved this program to directly support people affected by recurrent climatic events in Honduras.
Given the situation of poverty and extreme poverty in the affected areas; and considering the problems generated by the pandemic and accentuated by natural phenomena such as storms Eta and Iota; the need was identified to provide support directly to the population of the departments of Atlántida, Colón, Cortés, Gracias a Dios, Santa Bárbara, Yoro, Francisco Morazán and El Paraíso that meet specific and structured criteria of geographic location by category of catastrophic risk and extreme poverty, which are applied based on methodologies certified and endorsed by international organizations.
The purpose of this program is to improve income and quality of life and encourage local economic activity by supporting 156,513 families in the first instance out of a total of 234,579 families identified as exposed in territories affected by natural phenomena.
The Bank's actions are based on regulations, external and internal controls, complaint mechanisms, as well as the adoption of best practices in governance and impact measurement tools. This program has supervision and auditing schemes to verify the proper use of funds. In addition, CABEI support is being implemented in accordance with the best practices established by the international community.
The CABEI Country Office, together with CABEI's entire organizational structure, is responsible for monitoring projects through the implementation of these processes on an ongoing basis.
CABEI's support goes far beyond the Vulnerable Families Bond Program, prioritizing a comprehensive response with the purpose of supporting the reactivation of the national economy and boosting its growth and climate resilience in the medium and long term.
The main operations approved as part of the response to the economic, climate and health crisis include:
- Support for the Implementation of the National COVID-19 Vaccine Introduction Plan: 2.2 million people are currently benefiting from the COVID-19 vaccine.
- Implementation of the Program for Economic Reactivation through MSMEs during the COVID-19 Crisis and Post-Crisis in Honduras: Support is provided to enable MSMEs to obtain credit resources and guarantees under favorable conditions and thus sustain their businesses and maintain jobs.
- Promote the Resilient Housing Reconstruction Program: increase initiatives for the reconstruction and recovery of the housing sector for the vulnerable population affected during the emergency caused by the recent meteorological phenomena.
CABEI, as the Central American region's most important development bank, reiterates its willingness to assist the population and its member countries, working hand in hand with the public and private sectors, as well as in coordination with international cooperation agencies, to face future challenges and guarantee a service that meets its members' needs.