CABEI signs agreement with Argentina to promote science and technology

21/10/2016
El Presidente del BCIE, Nick Rischbieth junto al Ministro de Hacienda y Finanzas Públicas de Argentina, Alfonso Prat-Gay

CABEI Executive President Dr. Nick Rischbieth stated that CABEI’s value proposition focuses its institutional strategy on strengthening its relevance in the region and its positioning among its member countries.

Tegucigalpa, October 21, 2016. – Today, the Central American Bank for Economic Integration (CABEI) signed a US$50 million loan agreement with Argentina for the partial financing of the Program, “Strengthening Capacities in Research and Development (PROFOCAID).”

CABEI Executive President Dr. Nick Rischbieth noted that this will be the first CABEI operation executed in Argentina, which will enable the Bank to strengthen its relevance in the region and its positioning among its member countries.

The loan seeks to support the strategic research and development of the Argentine National Innovation System focused on the incorporation of knowledge and technologies to improve the competitiveness and productivity of small and medium enterprises.

In addition, CABEI recently approved a US$60 million loan for Argentina’s Integral Habitat Program.

Both operations are in line with the Bank’s strategic objectives aimed at strengthening human development and social infrastructure; promoting financial soundness through the geographical diversification of its portfolio; and reaffirming its commitment to support its member countries in concrete operations with innovative operational mechanisms in favor of regional development.

The signing ceremony, which was held at the Ministry of Treasury, was attended by the CABEI Executive President, Dr. Nick Rischbieth, and the Argentine Minister of Treasury and Public Finance, Mr. Alfonso Prat-Gay, who signed the agreement.

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