CABEI starts the year with significant raising of funds in local currency

Tegucigalpa, February 13, 2019.- The Central American Bank for Economic Integration (CABEI) began the year with a significant raising of funds in local currency from Public Social Security Institutions in Honduras for an aggregate amount of 200 million lempiras.

The operation will be carried out through investment instruments that allow investors to diversify their portfolios through a new category of assets, taking into account the high exposure they maintain to the sovereign and domestic financial system.

The above is in addition to the 61 billion Costa Rican colones collected in January, among other deposits that are expected to materialize in the short term within the framework of the Financial Intermediation Program in Local Currency.

CABEI Executive President, Dr. Dante Mossi, indicated that this type of operation is important because it fosters development through the channeling of resources and promotes financing in local currency, which contributes to mitigating the exchange risk and enables the borrowers and final beneficiaries to better manage their cash flows.

Dr. Mossi recalled that within the framework of its Financial Strategy, CABEI promotes the channeling of financial resources to foster sustainable economic growth and regional competitiveness. Currently, it has intensified efforts to consolidate a Financial Intermediation Program in Local Currency that is in line with current global Multilateral Banking trends.

Within the framework of this program, the Bank will channel such resources through its wide network of Intermediary Financial Institutions (currently 88 institutions) through various credit facilities aimed at high-impact sectors, including: Financing for the Micro, Small and Medium Enterprise with a focus on renewable energy and energy efficiency, biodiversity friendly projects, projects focused on agribusiness, entrepreneurial financing for women and the municipal infrastructure financing program.

As an international multilateral development institution, CABEI represents a high credit quality option for investors in the Central American region, taking into account its local "AAA" rating in all the countries of the region and "A+" rating at an international level with positive outlooks from the main risk rating agencies.

Furthermore, it is expected that in the short term CABEI will reach an international rating of "AA," making it the institution with the best credit risk in Latin America.