CABEI founding countries agree to accelerate payments of the VIII Capital Increase and analyze the IX Capital Increase at the LXII Assembly of Governors on September 23rd, 2022 in Mérida, Yucatán
Tegucigalpa, August 12th, 2022.- At a meeting held today between CABEI's Executive President, Dr. Dante Mossi, and the Governors of CABEI's founding member countries, the Republics of Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica, a work agenda was developed to create mechanisms aimed at strengthening and increasing the financial soundness of the Central American Bank for Economic Integration (CABEI) with the purpose of preparing this institution to respond to the economic and financial challenges that will arise in the immediate future for the countries of the Central American Integration System and its member countries.
In this regard, senior officials of the governments of the founding countries agreed to move forward with the advancement of the payments included in the eighth capital increase approved by the Assembly of Governors in 2018. Likewise, unanimously and following the agreement reached at the Sixty-First Ordinary Meeting of the Assembly of Governors held in Honduras on September 3, 2021, they decided to analyze the ninth capital increase during the next Assembly of Governors to be held on Friday, September 23, 2022, in Mérida, Yucatán, which would increase CABEI's capital from US$7 billion to US$10 billion.
"This is excellent news for all the citizens of the region, as it once again reiterates the commitment of the founding countries to CABEI, which in addition to being their bank, as expressed by the Governors during the meeting, is the main source of financing for the development of the SICA region," said the Executive President, Dr. Dante Mossi.
A ninth equity capital increase for CABEI, which is rated AA, would put the institution closer to achieving a significant increase in its investment grade, according to international rating agencies, and to increasing financial support to each member country.