CABEI grants loan to reactivate Guatemala's coffee sector
As the most relevant bank for the region, CABEI offers agile and integral support to its member countries.
Tegucigalpa, October 30, 2019.- Today, the Central American Bank for Economic Integration (CABEI) approved a loan for an amount of up to US$285.7 million for the "Economic Reactivation Program of the Coffee Subsector for the Republic of Guatemala."
The financing is targeted at the renovation of the country's coffee park, through the replacement of plants damaged by pests and diseases or that are old, allowing to reverse productivity losses due to the aging of the plantations and the effects of rust, estimating the renovation of approximately 19.9% of Guatemala's coffee park.
CABEI Executive President Dr. Dante Mossi stated that, "CABEI is fully committed to the region as its strategic ally to promote business opportunities that foster the development of its member countries."
The project's total investment represents US$285.7 million, which will be contributed by CABEI under 20-year financing scheme, including a 5-year grace period and an indicative annual interest rate of 4.66%.
