CABEI renews contingent credit line for US$200.0 million dollars to the Central Bank of Nicaragua
The signing takes place within the framework of the "Credit Program to Support the Liquidity Management of the Central Banks of CABEI's Founding Countries.”
Managua, September 07, 2020.- The Central American Bank for Economic Integration (CABEI) and the Central Bank of Nicaragua (BCN), signed today the eleventh renewal of the Credit Line, for an amount of US$200.0 million dollars, which is destined to solve contingencies and to safeguard the financial position of the country, in case it is required.
The cooperation was signed within the framework of the "Credit Program to Support the Liquidity Management of the Central Banks of CABEI's Founding Countries", exclusively to strengthen management, solve contingencies, and reinforce the liquidity position.
The revolving instrument is for one year, under favorable financial conditions, for immediate use and can be made effective whenever deemed necessary. The renewal of this credit facilitation provided by CABEI is made in response to the request of the Government of the Republic of Nicaragua.
In this regard, CABEI's Executive President, Dr. Dante Mossi, said: "In these times in the midst of the COVID-19 pandemic, our priority is to continue supporting our member countries to face the international economic recession. The Bank maintains its strength and financial capacity with the objective of transferring benefits to the countries.”