Kingdom of Spain makes second principal payment to CABEI
This principal payment reaffirms CABEI's profile with a solid credit and financial outlook.
Tegucigalpa, April 6th, 2021.- The Kingdom of Spain made the second capital installment payment to the Central American Bank for Economic Integration (CABEI) in the amount of US$4 million, as a sign of its financial commitment to the region in times of emergency due to the COVID-19 pandemic.
The disbursement corresponds to the second installment of the (5) annual and consecutive capital installments payable in cash corresponding to the capital subscription made by Spain within the framework of the Bank's VIII General Capital Increase.
Despite the economic difficulties and public health problems faced by the Central American region in 2020 due to the COVID-19 pandemic and the damage caused by hurricanes Eta and Iota, the multilateral organization has received solid support from its member countries, which has enabled the Bank to respond to its members efficiently, said CABEI's Executive President, Dr. Dante Mossi.
Since joining CABEI, Spain has promoted trade and investment with Central America, strengthened cooperation ties with the region and continued to contribute to financial and institutional consolidation for the isthmus through the establishment of support and financing mechanisms with CABEI.
Among the contributions to date are the Administration of the Honduran Debt Conversion Program Countervalue Fund with Spain and the MIPYME ICO financing line for Investments and/or Liquidity and Spanish Exports.
CABEI has expressed its interest in opening a representative office in Spain in 2021, with the objective of strengthening its presence in Europe. Spain was the fifth extra-regional country to join CABEI. Since joining CABEI in 2005, the Bank has managed a total of approximately US$477.9 million from different institutions in Spain.