CABEI and NIB consolidate their strategic alliance through a US$60 million agreement

Tegucigalpa, September 8, 2014. - The Central American Bank for Economic Integration and the Nordic Investment Bank signed a US$60 million credit framework agreement to promote commercial interchange between Central America and the Nordic region.

The agreement seeks to strengthen the alliance between CABEI and NIB in order to finance programs and projects in strategic sectors for both institutions. The resources will be mainly targeted at supporting climate change adaptation and mitigation, as well as at fostering competitiveness and social infrastructure investment in the region.

CABEI Executive Dr. Nick Rischbieth Glöe highlighted the Bank’s important role as a strategic partner for channeling resources and foreign investment to the region. He added that the alliance will lead to stronger trade relations between the Nordic countries and Central America, which will create more jobs and contribute to poverty reduction.

CABEI and NIB have had an extensive strategic alliance since 2001, when the two institutions collaborated to finance a series of highway and energy-related projects. Recently they joined forces to finance wind energy projects in Guatemala.