CABEI’s Board of Directors approves resources for US$130.0 million with the Republic of China (Taiwan)
The resources may be used in MSMEs affected by COVID-19 and public sector projects in Guatemala, Honduras, Nicaragua and Belize.
Tegucigalpa August 25, 2020. - The Board of Directors of the Central American Bank for Economic Integration (CABEI) approved today the signing of two loan contracts for an aggregate amount of US$130.0 million with the International Cooperation and Development Fund (TaiwanICDF) of the Republic of China (Taiwan).
The resources of both contracts will be used to finance eligible operations under the Emergency Support and Preparedness Program for COVID-19 and Economic Reactivation approved by CABEI on March 31, 2020.
The first contract for an amount of up to US$50.0 million will allow CABEI to finance eligible operations within the framework of Component 3 called “Credit for Public Sector Operations Financing” of the Republics of Guatemala, Honduras, Nicaragua and Belize.
The second contract for an amount of up to US$80.0 million will allow CABEI to finance eligible operations within the framework of Component 5 called “Facility to Support the Financial Sector for the Financing of Micro, Small and Medium-sized Enterprises (MSMEs) affected by the COVID-19 crisis”.
CABEI’s Executive President, Dr. Dante Mossi highlighted the importance of the Republic of China (Taiwan) for CABEI in its mission to contribute to the balanced economic and social development of the Central American region. The cooperation that this country has provided through the Bank has focused on areas such as Food Security, Agricultural Sector, Education, and MSMES Financing.
The Republic of China (Taiwan) is the extra-regional partner with the highest CABEI shareholding with 10.77%. Its participation demonstrates its commitment to the Central American region, which is confirmed by the two loan contracts approved today.