CABEI confirms its commitment to SICA

Tegucigalpa, November 6, 2014 - The Executive President of the Central American Bank for Economic Integration (CABEI), Nick Rischbieth met with the Secretary General of the Central American Integration System of (SICA, acronym in Spanish), Victoria Marina Velasquez de Avilés, to discuss issues of joint initiatives to promote integration and economic development.

During the meeting, the Executive President Rischbieth reiterated the multilateral bank’s disposition to attend the needs of the countries that make up the SICA through regional interventions in accordance with the mandates of the Presidential Summits of the system.

CABEI is committed at the regional level to the implementation of actions, initiatives and projects that are part of the regional agenda of the countries that make up SICA, through the financing of projects in the five key areas (economic integration, social integration, climate change and disaster prevention, regional democratic security and institutional strengthening).

In this regard CABEI has developed various projects and programs to address regional priorities, highlighting the following interventions:

• Pilot program to assist the population affected by the coffee plague and the promotion of practices for the sustainable coffee cultivation in Central America.
• Funding of more than $1,900 million for infrastructure and transportation services as part of the Mesoamerican Corridor of Integration (Pacific Corridor) and the International Network of Mesoamerican Road (RICAM).
• Phase I of the RICAM bridges program.
• Energy projects that are part of the Central American Electrical Interconnection System (SIEPAC). CABEI has contributed 19% of the interconnection system.
• Support to Central American MSMEs. The Bank has placed more than $2,767 million through its network of strategic partners as of 2013.
• Financial intermediation for the Social housing program, where CABEI Has successfully managed 228 disbursements since 2006 through 32 institutions, channeling more than $210.9 million and benefiting a total of 46,648 low-income households.
• Formulation of a Regional Water and Sanitation Program.
• Contribution to efforts to combat climate change by funding power generation projects with renewable sources. To 2013 the CABEI has funded more than $2,900 million to the energy sector in 170 projects, of which 64% with renewable sources.
• The investment is equivalent to 4,505 MW, representing 36% of the installed capacity in the region. In security matters, CABEI approved the Support Program for the Central American Security Strategy (ESCA) in support of the actions identified in this strategy.

The working visit is part of the efforts of increasing relations of CABEI, as the financial agent for the region, with the Central American Integration System, which is part of the system.