Promoting economic development to attract investment between Spain and Central America
CABEI and the Official Credit Institute of Spain signed an agreement to promote exports and imports and boost investment in the CABEI member countries.
Tegucigalpa, March 7, 2017. – The Central American Bank for Economic Integration (CABEI) and the Official Credit Institute (ICO) of Spain signed a 25 million euro contract to finance investment projects, working capital and export and import operations through Spanish companies in CABEI member countries.
CABEI Executive President, Dr. Nick Rischbieth, and ICO President, Mr. Pablo Zalba, signed the document, which seeks to facilitate the financing to companies with at least 30% of Spanish capital carrying out commercial activities in the Bank’s member countries.
Actions established in the document include the possibility of financing long-term investments and exports of companies with a registered office outside of Spain that acquire goods or services from companies with registered offices in Spain. It also includes financing for companies with registered offices in Spain that sell goods or services to companies with registered offices outside of Spain.
Dr. Nick Rischbieth stated that, "This effort confirms the Bank's commitment to the development of its member countries and ratifies its importance as a leading provider of financial solutions for the region's development, foreign investment and the implementation of initiatives to improve the competitiveness of micro, small and medium-sized enterprises."
ICO President, Mr. Pablo Zalba, expressed that, "The agreement will streamline the excellent relationship between both institutions, enabling Spanish companies to access new financing opportunities in the Central American region."
Through the agreement signing, CABEI and ICO reaffirm their commitment to the economic and social development of the Central American region, in addition to strengthening the cooperation framework they have sustained for 26 years through different CABEI interventions and programs. One of ICO’s most significant contributions has been the channeling of support resources to micro, small and medium-sized enterprises.
