German official briefed on CABEI’s contributions to the region’s development

The Executive President of the Central American Bank for Economic Integration (CABEI), Dr. Nick Rischbieth, met today with the Parliamentary State Secretary of the Federal Ministry for Economic Cooperation and Development, Mr. Hans-Joachim Fuchtel, who is currently visiting Honduras.

During the work luncheon, President Rischbieth dealt with a number of issues, including CABEI’s extensive history in the region and its financial cooperation with Germany.

He highlighted the noteworthy cooperation between the German government and CABEI in the signing of more than US$450.0 million in loans with the KFW Development Bank to promote the region’s sustainable development.
 
Dr. Rischbieth stated that the specific case of cooperation between CABEI and Germany goes beyond purely financial operations and has contributed significantly to CABEI’s institutional and technical strengthening in three areas of joint cooperation: sustainable economic development through the promotion of micro, small and medium enterprises (MSMEs); energy efficiency and renewable energy; and environmental  and natural resource protection. These efforts complement CABEI’s mandate to contribute to the balanced economic and social development of its member countries as a response to the needs defined by the region’s governments.

During the meeting, President Rischbieth discussed the modifications to the CABEI Constitutive Agreement and other regulations, noting that the changes allow the incorporation of non-founding regional countries with the object of consolidating CABEI’s status as a preferential creditor with the full support of its member countries. The Bank will also continue to strengthen its capital base and seek greater diversification in its loan portfolio.

The CABEI President stressed the Institution’s commitment to environmental sustainability and highlighted the Bank’s efforts to mitigate climate change.

Both Dr. Rischbieth and Mr. Fuchtel expressed their interest in promoting private sector participation in development-related investment projects.