CABEI promotes the integration and development of its partner countries

03/05/2018
El BCIE es la principal fuente de financiamiento multilateral para el desarrollo en la región.
El BCIE es la principal fuente de financiamiento multilateral para el desarrollo en la región.

At the recent 2018 meeting, held in the Dominican Republic, the authorized capital increase of 5 to 7 billion dollars was agreed upon.

La Romana, Santo Domingo May 3, 2018. -  At the 58th Ordinary Meeting of the Board of Governors of the Central American Bank for Economic Integration (CABEI), the Bank ratified its commitment to supporting its member countries in the provision of financial solutions tailored to their needs by attracting investment to the region, maintaining its profile in financial markets and, above all, preserving the foundations of its creation, which seek the integration and the social and economic development of the region.

During the meeting, the Board of Governors approved an increase to its authorized capital from US$5.0 billion to US$7.0 billion in order to strengthen the institution's credit and financial profile.

The Board of Governors also decided that their next Ordinary Meeting will be held in April 2019 in the Republic of Argentina. It is noteworthy that during the period from 2013 to 2017, CABEI approved US$170.0 million in resources for this member country. Regarding the portfolio of active operations during fiscal year 2017, Argentina closed with US$2.5 million. In addition, US$2.6 million in disbursements were channeled, impacting mainly economic activities of a professional, scientific and technical nature. Argentina joined CABEI in 1994.

With respect to the Board of Directors, approval of the following operations was announced in the framework of the Board of Governors meeting:
 
•    Non-reimbursable financial cooperation to El Salvador for an amount of up to US$24.9 million to finance specialized technical assistance in support of the Ministry of Agriculture and Livestock.
•    US$50.0 million loan to Costa Rica to partially finance the execution of the project, "Strengthening of Universidad Tecnica Nacional (UTN) through Investment in Infrastructure, Equipment and Human Capital."
•    US$55 million in technical cooperation in the framework of the Preinvestment and Technical Cooperation Financing Program within the Technical Cooperation Subprogram, in favor of Costa Rica to finance the feasibility studies and final design of the Regional Market Project in the Brunca region.  

CABEI is the main source of multilateral financing for the region's development. Since its founding through the close of 2017, the Bank has supported projects for an amount of US$32.99 billion and disbursed US$26.39 billion.

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