CABEI promotes regional development with US$2.08 billion in project approvals

Tegucigalpa, January 20, 2017 (AFP SERVICES/CABEI) – In 2016, the Central American Bank for Economic Integration (CABEI) approved a total of US$2.08 billion for the execution of projects to promote regional development.

The projects focused on social and productive infrastructure, energy, rural development, environmental protection, financial intermediation and development finance and services to boost competitiveness.

In that sense, CABEI has focused its 2015-2019 Institutional Strategy on the improvement and construction of highways to benefit approximately 6.4 million people and on investment aimed at improving the competitiveness of 538,120 Central Americans.

Approximately 8.3 million people benefited from projects that involved social and productive infrastructure, energy, rural development, environmental protection, financial intermediation and development finance and competitiveness services.

CABEI Executive President Dr. Nick Rischbieth stated that, “These results confirm the Bank’s commitment to the development of its member countries." He also reaffirmed CABEI’s importance as the leading provider of financial solutions for the region’s development.

In addition, 350 thousand higher education students from regional universities were sponsored through the CABEI Educational Credit Program, which seeks to contribute to the human talent formation.

Likewise, through an alliance with the Central American Economic Integration Secretariat (SIECA) and the Regional Center for MSME Promotion in Central America (CENPROMYPE), CABEI developed the Regional Financing Program for Women Entrepreneurs, which seeks to promote the economic autonomy of women and the development and integration of Central American with a focus on gender equality.

CABEI has organized its institutional activity for the 2015-2019 five year period into two strategic axes: its relevance as a multilateral bank for the region and the establishment of efficient and optimal processes to ensure adequate human capital development in order to provide improved services.

For CABEI Executive Vice President, Attorney Alejandro Rodríguez, today’s results demonstrate the success of the institutional plan to boost regional development, which is a direct result of the axes of social development, competitiveness, regional integration and environmental sustainability being in line with the needs and reality of the Central American peoples.

It is for that reason that the Bank seeks to establish strategic alliances with other organizations, incur in new capital markets and diversify its portfolio in priority areas in order to improve its credit position.

Furthermore, Attorney Rodríguez considers that the Bank should carry out a process of market diversification, continue strengthening its equity and incorporate new members.