CABEI President highlights multilateral organizations' role in the region's economic recovery
• CABEI designed the Emergency Support and Preparedness Program for COVID-19 and its economic reactivation, which has US$2,360.1 million in financial resources to support the countries of the region in their efforts to combat the health crisis.
• In recent months CABEI has disbursed US$131.6 million to support the region's business sector to address the effects of the COVID-19 pandemic.
Tegucigalpa, October 13, 2020.- The Executive President of the Central American Bank for Economic Integration (CABEI), Dr. Dante Mossi, highlighted the Bank's role, which is key to mitigating the financial effects of the COVID-19 contingency in the region, in his speech at the Virtual Industrial Congress "The Future of Industry in the Times of COVID-19", organized by the National Association of Industrialists.
Dr. Mossi said that in view of the efforts to prevent and contain the health emergency and to strengthen the regional economy, CABEI approved the Emergency Support and Preparedness Program for COVID-19 and its economic reactivation, which has US$2.36 billion available.
In line with its commitment to the MIPYME sector, he pointed out that CABEI has implemented the Financial Sector Support Facility for financing before COVID-19, of which it has already disbursed US$131.6 million. This amount is intended to meet the needs of this sector, which is key to the region's economy.
During the panel, where the following also participated: The Deputy Mission Chief, Cooperation Chief. German Embassy, Thomas Clieslik and Andrew McCown, Acting Director of the USAID/Honduras Office of Economic Growth; President Mossi, emphasized the importance for the Bank of having consolidated the " AA " rank in all its international ratings this year, maintaining it as the best risk in all Latin America.
He also emphasized the VIII capital increase, which represents a historic achievement, considering the situation that the countries of the region are facing under the COVID-19 pandemic. In this regard, he highlighted CABEI as the first and only Multilateral Development Bank that to date has managed to implement a capitalization process in response to the current economic crisis related to the pandemic.
At the end of his speech, CABEI's president reiterated the drive and contribution that for more than a century that entity has given to economic integration and economic and social development in the region. CABEI contemplates for the 2020-2024 period an average of annual approvals that will reach US$3,038.0 million, which represents an increase of almost US$1,000.0 million per year compared to the 2015-2019 period.
