CABEI and European Investment Bank (EIB) Form Alliance for the Development of the Central American Region

The Executive President of the Central American Bank for Economic Integration (CABEI), Dr. Nick Rischbieth, held a meeting with European Investment Bank (EIB) President Dr. Werner Hoyer, where they reaffirmed their commitment to cooperate to foster the economic development of Central America and to improve its infrastructure.

Both institutions are interested in promoting projects that provide investment opportunities in the Central American countries and undertaking joint efforts targeting climate change adaptation and mitigation and improving the standard of living and increasing development in the region’s countries.

During the meeting, Dr. Rischbieth discussed the different projects and initiatives being undertaken by CABEI, the Central American development bank. In addition, he highlighted the Bank’s competitive advantages in the region; as a financial organization with more than 53 years of experience in the region, the Bank has gained credibility through its proven leadership.

Likewise, CABEI Executive President Dr. Nick Rischbieth stressed that CABEI is an ideal strategic partner for the projects and programs that the EIB wishes to carry out in Central America and that the synergy between the two institutions could have a significant impact on the region’s development.

CABEI and the EIB have been collaborating in the region for more than 20 years, jointly financing a number of important projects in different sectors of the Central American economy.

The EIB is the European Union’s (UE) investment bank. It works jointly with other EU institutions to implement the organization’s policies. Today it is the largest multilateral bank in the world with assets amounting to US$512.2 billion (2013); its cooperation with CABEI involves more than US$360 million and has principally targeted climate change mitigation and adaptation.

In addition, CABEI and the EIB have worked together to finance important regional infrastructure projects, such as the Central American Electrical Interconnection System (SIEPAC, Spanish acronym).

The EIB delegation included Dr. Werner Hoyer and Susan Antz, Senior Loan Officer for Latin American Operations.