CABEI and Nicaragua's private sector analyze business opportunities for the country's economic development
At a meeting with the main representatives of the national economy, the multilateral presented the alternatives and advantages of its financing programs.
Managua, May 5th, 2022.- The first meeting between the Central American Bank for Economic Integration (CABEI) and representatives of Nicaragua's main financial institutions and productive sector was a great success, where possible joint actions to promote the country's economic and social development were analyzed.
The activity addressed issues related to the improvement of infrastructure and logistics, training and technological progress for exports, as well as possible mechanisms for investment in the productive sector, energy, housing, trade, innovative projects, the strengthening of the reactivation plan for MSMEs, the support provided to projects developed in the dry corridor, electromobility, issues such as irrigation and electricity generation through renewable sources, among others.
"As a development Bank, we are pleased to promote these opportunities for exchange, which we are sure will not be the last, as they allow us to strengthen relationships and unify efforts for the well-being of Nicaraguans. Today we have spoken with 13 representatives of chambers of commerce, 8 financial institutions, the Nicaraguan Association of Banks and the Chamber of Microfinance about the Bank's financing mechanisms as tools for the recovery and dynamization of the economy," explained CABEI Executive President, Dr. Dante Mossi.
During the dialogue, CABEI indicated that as part of the actions to support the private sector in Nicaragua, the cost structure of financing opportunities will be reviewed so that the final recipient receives resources at a reasonable cost, and the possibility of issuing bonds in local currency to finance construction sector projects as an alternative to vertical construction will also be analyzed.
Another important point is the CABEI capital fund to be launched on June 30, as well as the recent creation of its Foundation and the opportunity for the different entities to opt for Korean funds with the creation of innovative initiatives.
CABEI is a regional integration institution that recognizes the importance of the private sector as a generator of wealth and economic and social development in the countries of the SICA region, hence the importance of exchanging with them to learn firsthand how CABEI can contribute more closely to the generation of employment and well-being.
CABEI currently has significant active operations in this Central American country aimed at the private sector, with a portfolio totaling US$119.28 million in 8 intermediary financial institutions.
