CABEI and IIB sign agreement of understanding to promote knowledge Exchange

Tegucigalpa, November 30, 2018.- The Central American Bank for Economic Integration (CABEI) and the International Investment Bank (IIB) signed a collaboration agreement to promote programs and initiatives that foster the exchange of knowledge, with special emphasis on areas that are directly relevant to the priorities and strategies of common interest.

CABEI Executive President, Dr. Nick Rischbieth, stated that, "This agreement is very important because it will deepen the exchange and generation of knowledge for the Central American region."

Important
As part of the agreement, actions and cooperation between CABEI and IIB will be facilitated in different areas of common interest, including: co-financing, syndicated loans and other forms of joint participation in financial assistance for development projects in countries of mutual interest.

In addition, the document provides for the promotion of increased trade and investment in the member countries and the exchange of information, experiences and best practices with the aim of improving operational efficiency and impact on development.

It has been foreseen that collaborative activities can be implemented through the preparation of knowledge products, the organization of conferences, meetings, study visits, exchanges of human resources and other means acceptable to both institutions.

It is important to bear in mind that, since July 2018, the Republic of Cuba is a common member state for both financial institutions. The establishment of a more active cooperation between IIB and CABEI opens new opportunities for the joint financing of investment initiatives that provide valuable assistance to the Cuban economy.

The cooperation agreement was signed by CABEI Executive President, Dr. Nick Rischbieth, and IIB Board of Directors Head, Mr. Nikolay Kosov.