CABEI signs new EUR180 million credit line with French Development Agency (AFD)

10/12/2019
CABEI is committed to promoting innovation and evolving tools and ideas to adapt to the new times and meet the needs of its member countries.
CABEI is committed to promoting innovation and evolving tools and ideas to adapt to the new times and meet the needs of its member countries.

The agreement aims to promote projects related to climate change mitigation and adaptation and the promotion of gender equality.

Tegucigalpa, December 13, 2019.-Today, the Executive President of the Central American Bank for Economic Integration (CABEI), Dr. Dante Mossi, and the French Development Agency (AFD) Regional Director for Mexico, Cuba and Central America, Jean-Baptiste Sabatié, signed a non-reimbursable  loan agreement for an amount of up to 180 million euros.

The agreement's main objective is the financing of projects related to climate change mitigation and adaptation and the promotion of gender equality.

The Loan Agreement resources will be used to finance operations of the Public Sector (Sovereign and non-sovereign) and the Private Sector in Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Cuba and the Dominican Republic.

During the signing ceremony Dr. Mossi stated that, “By means of these actions, CABEI supports the region's sustainable development so that future generations have a better country; one that is economically efficient, environmentally-friendly and gender-equal.”

The relationship between CABEI and AFD began in 2016 with the signing of a Loan Agreement for up to EUR150.0 million (approximately US$166.8 million). It is noteworthy that to date, all of the resources have been allocated to jointly funded projects; the latter fact led to both institutions agreeing to establish a new credit line for a higher amount to promote programs and projects in the two aforementioned areas, which are Priorities for both CABEI and AFD.

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