CABEI records historical figures of US$3,459.1 million in approvals and US$2,538.8 million in disbursements in the year 2020
The amounts obtained by the multilateral are the highest in its 60-year history.
Tegucigalpa, January 11, 2021.- Reaffirming its financial soundness and support to its member countries, the Central American Bank for Economic Integration (CABEI) at the end of 2020 reached the highest figures in 60 years since its foundation, referring to approvals totaling US$3,459.1 million, and disbursements for a total amount of US$2,538.8 million, which represents an increase of 31 percent respectively compared to 2019.
The approvals and disbursements achieved are in line with the emergency situation faced by the countries of the region in the face of the COVID-19 pandemic, in addition to the effects caused by hurricanes Eta and Iota. Recalling that CABEI as the main multilateral institution provided a timely response through the implementation of different programs, projects and financial solutions aimed at the public and private sectors of the countries.
For his part, CABEI's Executive President, Dr. Dante Mossi, mentioned that these results have been possible thanks to the implementation of the eighth capital increase, from US$5 billion to US$7 billion, making it the first development bank to carry out a general capital increase during the current pandemic crisis. This constitutes a record in the history of capitalization among multilateral development banks, allowing for the maintenance of solid indicators of capital, liquidity and the implementation of prudent financial management policies.
In addition, Dr. Mossi explained that in the midst of a challenging environment due to the adverse effects of COVID-19 and recently the ravages of natural disasters highlights the high level of commitment, trust and support from partner countries for CABEI.
“We have also closed the year with levels close to 0 percent in terms of arrears, which ratifies the preferential credit that (sovereign) countries grant to CABEI, all with the objective of continuing to maintain our AA risk rating in the face of the challenges of 2021," he said.
Currently, a total of 44 programs and projects between public and private have the financial support of CABEI, which represents an investment of more than US$12.8 billion that allows to support economic development, employment generation and new opportunities to improve the welfare of Central Americans.