Panama reaffirms its commitment to strengthening CABEI's equity through capital contribution
Tegucigalpa, April 21, 2022 - As a sign of its support for strengthening the equity of the Central American Bank for Economic Integration (CABEI), the Republic of Panama paid its second installment of capital related to the capital subscription made by Panama in the framework of the Bank's VIII General Capital Increase.
On April 11, 2022, the Republic of Panama made a cash payment of US$3.2 million, corresponding to the second of eight (8) annual, equal and consecutive installments of capital payable derived from the subscription of 10,240 series "B" shares made within the framework of the aforementioned capital increase.
CABEI Executive President, Dr. Dante Mossi, stated that "this demonstrates the quality of CABEI's members, who, in addition to demonstrating their commitment to strengthening the Institution's financial and credit profile, strengthen the role played by the Bank in the midst of the crises it is currently facing as a result of the COVID-19 pandemic and the adverse effects of climate change in the region."
He indicated that Panama is a key piece in the diversification of the Bank's portfolio, "the programs and projects in the country are focused on the economic reactivation of this partner due to the impact of the COVID-19 pandemic, allocating resources to the generation of employment with gender equity, attention to the most vulnerable groups and investment in infrastructure. In that line, the referred programs and projects are of positive impact especially in sectors such as tourism, environment and logistics of Panama, which in turn are expected to contribute to regional integration."
In 2020, CABEI officially increased its authorized capital from $5 billion to $7 billion. This was the Bank's VIII General Capital Increase; the second in less than ten (10) years, which confirms the high value of the CABEI franchise and the support of its members, as well as its relevance for the region as the main channeler of financial resources, disbursing more than US$30,000.0 million since its founding in 1960.
With a loan portfolio of US$619.1 million, Panama has been a member of the Central American Bank for Economic Integration since 2007 as a non-founding regional member.