CABEI and ORIO sign a Cooperation Agreement to promote infrastructure projects in Central America

Tegucigalpa, May 24, 2013. The Executive President of the Central American Bank for Economic Integration (CABEI), Dr. Nick Rischbieth, and the Unit Manager of the Dutch Fund for Development of Public Infrastructure (ORIO), Mr. Joris M. Janse, sign a Cooperation Agreement in The Hague, Netherlands, to promote projects that contribute to the sustainable economic development of the Central American countries.

During the upcoming months, CABEI and ORIO will work together to materialize assistance initiatives that broaden the co-finance actions that facilitate the join implementation of specific infrastructure projects.

"The impact of these strategic alliances is a fundamental pillar for an increase in productivity, jobs creation, innovation drive, social inclusion and competitiveness", said the Executive President of CABEI, Dr. Nick Rischbieth.

Prior to the signing of this Cooperation Agreement, CABEI and ORIO have kept a close collaboration for the co-finance of the General Hospital of the Western Zone of Managua ("Hosptial General Occidental"). For this project ORIO formalized a donation to the Republic of Nicaragua for more than US$22.75 million, and CABEI signed a concessional loan with Nicaragua for more than US$41.85 million, for a total investment of more than US$64.6 million on hospital infrastructure in a country where there are important gaps on medical attention to the population.

ORIO also provided a contribution of US$500,000 for the design phase of the Hospital. Moreover, this project is the first that ORIO co-finances in Latin America.
ORIO is a fund that provides non-refundable financing for infrastructure projects that have a high impact on development in countries declared eligible by the Netherlands Ministry of Foreign Affairs. The fund is managed and executed by EVD International, an entity part of the Netherlands Ministry of Economic Affairs. At present, the countries eligible for ORIO support are the Republic of Guatemala and Nicaragua.