CABEI and ICO partners for sustainable development in Central American
Cooperation is expected to be based on areas of common interest aimed at poverty reduction, sustainable development and strengthening of regional integration.
Tegucigalpa, Oct. 13, 2014 - The Central American Bank for Economic Integration (CABEI) and the Instituto de Crédito Oficial (ICO), signed a memorandum of understanding to collaborate on joint initiatives on sustainable economic development.
CABEI’s Executive President, Dr. Nick Rischbieth and the Director General of Strategy and Financing of ICO, D. Fernando Navarrete, signed the document that establishes guidelines under which both organizations will collaborate to establish a cooperative partnership to benefit human development and the fulfilment of the Millennium Development Goals (MDGs).
“CABEI has a successful history of more than 23 years of cooperation with the ICO", remarked the Executive President Rischbieth, adding that the first loan agreement was signed in 1991. "Since then, the ICO, financial branch of the Government of Spain, has channeled US$ 194.3 MM in various CABEI interventions and programs;" among the most notable contributions the channeling of resources to support MSMES and infrastructure in the region", he also noted.
"This agreement is aimed at formalizing a non-exclusive framework of cooperation between ICO and CABEI, as well as to facilitate the collaboration between the parties for the promotion of programs and projects that promote such cooperation, and in particular, support the development of specific activities and projects", highlighted CABEI’s Executive President Dr. Nick Rischbieth.
