CABEI Executive President Nick Rischbieth recognized for promoting the economic and social development of the Central American region

San Salvador, November 23, 2018.- The General Secretariat of the Central American Integration System (SICA) presented the merit order in the degree "Agreements of Esquipulas" to CABEI Executive President Nick Rischbieth for his years of leadership, in which he has worked decisively to ensure that the interventions of the multilateral development organization be a determining factor for sustainable economic and social development, promoting the integration of the Central American region.

Dr. Rischbieth has been a constant promoter of initiatives that increase the Bank's impact in the region, as well as the development of its inhabitants. His career with the Institution began in 1995 as Treasurer; in 2007 he was elected Executive Vice President; and in 2008 he assumed the Presidency on an interim basis. He was elected CABEI Executive President for the 2008-2013 period and then re-elected to occupy this position during the 2013-2018 term.

Dr. Rischbieth's main achievements include his leadership in the achievement of the investment grade granted by the main international credit rating agencies, positioning CABEI as one of the best risk ratings in Latin America. As a result of his management, CABEI has established itself as a recognized issuer in international and regional capital markets and has permanent access to financing under competitive conditions.

Likewise, Dr. Rischbieth promoted the modifications to the Constitutive Agreement that consolidated CABEI as a new multilateral bank and the most relevant for the region of the SICA countries.

In this regard, Dr. Rischbieth stressed that, "I am not leaving Honduras nor Central America; we have left the Bank, which is the region's main economic and social development ally, as one of the most solid development financial institutions in
Latin America with a credit rating at the gates of reaching AA, with an equity exceeding US$2.80 billion and with the incorporation of Korea, which is planned to be materialized this year."

During the presentation of the decoration, the Secretary General of SICA, Mr. Vinicio Cerezo, mentioned that, "Nick Rischbieth undoubtedly improved CABEI's management to strengthen the countries of the region, but his greatest contribution has been precisely to support the transformations of the region, streamlining the potential of Central America because we are a region of opportunities."

The Bank's contribution in terms of integration is fundamentally known for its financing to SIEPAC, but this is only one example of the efforts that CABEI has been making with more emphasis since 2011 through the financing of more than 19 programs and projects linked to the five pillars of integration for an amount exceeding US$1.45 billion, in addition to the financing of more than US$2.30 billion for highway projects, electrical interconnection and housing development.

The SICA order in the degree "Agreements of Esquipulas" is granted to Ministers and Vice Ministers of State or those who have been, to regional officials who head or have headed any of the organs of the Central American Integration System and to those who make valuable contributions for the peace and democracy of the peoples.