CABEI promotes the region's integration with the opening of an office in Panama

Panama, January 30, 2018.- The Central American Bank for Economic Integration (CABEI) announces the opening of a new regional office in Panama with the objective of promoting the competitiveness of the region, as well as to contribute to the commercial and service exchange between the countries.

CABEI has established itself as the most important multilateral bank for the Central American region, being the institution that in recent years has granted close to 50% of multilateral financing to Central America. Since its founding at the end of 2017, CABEI has approved US $ 32,991.6 billion and disbursed US $ 26,385.29 billion.

The recent improvement of the credit rating awarded by rating agencies reflects CABEI's important progress in its process of strengthening its financial and business profile. The rating upgrade represents a firm step towards obtaining an international AA- risk rating and affirms the Bank's position as the third best SSA issuer with the best risk rating in Latin America.  

During a meeting with media representatives in Panama, the Executive President of CABEI, Dr. Nick Rischbieth, announced that CABEI has become a more attractive bank for the countries of the Central American region and for possible new partners; from the strengthening of its credit capacity through new capital and its greater opening to new markets, knowledge and technologies, which will ultimately favor all its partners.

CABEI's historic approvals for Panama amount to approximately US $ 880 million. These resources that have been channeled into the areas of Energy, Human Development and Social Infrastructure, and Agriculture and Rural Development.

Operations financed by CABEI in Panama are aimed at promoting social development, competitiveness and regional integration. In the last decade, 19 operations were approved, of which the following projects can be cited: Changuinola I Hydroelectric Project, Hemodialysis Clinic, Penonomé Wind Project, Atlantic Natural Gas Power Generation Project and Costa Norte Regasification Terminal, Sanitation of the Arriaján and La Chorrera Districts, Project Gorgas Campus Phase I, and the opening of global credit lines to Banco Latinoamericano de Comercio Exterior SA, Banco Hipotecaria and Banco Aliado among others.

The president of CABEI stressed that Panama has had an excellent socioeconomic performance evincing a solid trend. Its strategic location and its integration into the world economy have made it the fastest growing economy in Latin America and the Caribbean and have strengthened its position as the main regional logistics hub.