Consolidating the integrationist and regional development vision, CABEI begins its LXIII Board of Governors' Meeting in the Dominican Republic
Once a year, the multilateral organization brings together the top representatives of its 15 member countries to evaluate the actions carried out and future priorities.
Punta Cana, May 12, 2023 - TheLXIII Board of Governors of the Central American Bank for Economic Integration (CABEI) began this Friday in Punta Cana, Dominican Republic, with the aim of remaining an effective and opportune partner for its member countries, with modern solutions that contribute to development and economic integration in the region.
By 2022, CABEI will have approved US$4.290 billion in development projects and programs, and disbursed US$2.163.9 billion to finance energy, roads, rail transport, health, and security projects. By 2023, CABEI expects to have approved US$3.3 billion and disbursed US$2.050.2 billion, which will allow it to continue promoting integration, competitiveness and sustainable and inclusive development in the region.
The inaugural ceremony was attended by Mrs. Raquel Peña, Vice President of the Dominican Republic; Mrs. María del Carmen Bonilla, Head of the Public Credit and International Finance Affairs Unit, Governor of the United Mexican States and President of CABEI’s Board of Governors; present virtually; Minister of Finance, Jochi Vicente, and CABEI Director for the Dominican Republic, Hostos Rizik.
CABEI's Executive President, Dr. Dante Mossi, welcomed those present, as well as those who tuned in virtually to the ceremony, highlighting CABEI's important role as the main source of resources for the region, with a participation of close to 50% of the disbursements received by the countries over the last 17 years. The Bank's financial soundness derives mainly from the "Preferred Creditor" treatment conferred by its member countries and backed by its credit rating (AA), distinguishing it as a relevant issuer in the capital markets with permanent access to resources under competitive conditions.
"The relevance of having an effective and opportune bank like CABEI in the region is demonstrated by the investments in economic and social development that our member countries have been able to make over 63 years of history, which today improve the quality of life of more than 48 million Central Americans and which we hope to continue to support," he said.
He concluded by saying that, in addition to a review of the decisions taken in regards to its Institutional Strategy, the member countries also discussed the multilateral's priorities.
Vice President Raquel Peña, representing the President of the Republic, said that the government is proud to host the Sixty-third Board of Governors, a crucial event for the Bank and for the economic and social development of the region.
"CABEI has firmly believed in the Dominican Republic's potential. The government is committed to continue working for its growth and development. In addition, the Dominican Republic seeks to be an allied partner of regional integration in Latin America and the Caribbean," said Peña.
Meanwhile, the Governor representing the Dominican Republic at CABEI, Finance Minister José Manuel Vicente, said that "these financings contribute to the pillars of our debt management strategy, as they increase the participation of multilateral banks, taking advantage of lower costs and increasing spending and investment transparency."
