Republic of Nicaragua Reaffirms its Commitment to CABEI’s Equity Strengthening through Advance Capital Contribution
Tegucigalpa, August 31 2022 – As a sign of its support to the equity strengthening of the Central American Bank for Economic Integration (CABEI), the Republic of Nicaragua has made the advance payment of its third share of capital linked to the capital subscription made by that country within the framework of the Eighth General Capital Increase of the Bank.
On August 30, 2022, the Republic of Nicaragua made a cash payment of US$6.4 million, corresponding to the third of eight (8) annual, equal and consecutive installments of capital payable derived from the subscription of 20,400 series "A" shares made within the framework of the aforementioned capital increase.
CABEI’s Executive President, Dr. Dante Mossi said that "this shows the quality of partners that CABEI has, which, in addition to demonstrating their commitment to strengthen the financial and credit profile of the Institution, it also strengthens the role that the Bank plays in the midst of the challenging economic context that the Central American region faces."
Therefore, Dr. Dante Mossi also highlighted the recent unanimous decision of the founding countries to analyze a ninth capital increase during the next Board of Governors to be held next September, through which, CABEI would be increasing its capital from US$7 billion to US$10 billion.
With a loan portfolio of US$1.862 million, CABEI finances programs, projects and initiatives in the Republic of Nicaragua ranging from road infrastructure, hospital infrastructure, energy, water, and sanitation, among others.