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CABEI celebrates its 60th anniversary

12.12.2019 00:00    By: CABEI    News, Centroamérica    Age: 73 days

Thanks to its prudent management, CABEI has consolidated itself as the most efficient and profitable multilateral development organization in the region.
Thanks to its prudent management, CABEI has consolidated itself as the most efficient and profitable multilateral development organization in the region.

CABEI was created as a financial organization to promote Central America's economic integration.

Tegucigalpa, December 12, 2019.- The Executive President of the Central American Bank for Economic Integration (CABEI), Dr. Dante Mossi, presided over the celebration of the 60th anniversary of the most important development multilateral organization in the region.

During the meeting, President Mossi stated that, “2020 will be a year of great milestones for CABEI as it completes 60 years as the financial arm of Central American integration. Celebrating this anniversary reflects the Bank's soundness and the strength of its business model. Throughout these 60 years, CABEI's mission has been to promote the economic integration and social development of the Central American countries.”

60 years and endless opportunities for the region
Since its inception, CABEI has developed significant work hand in hand with its member countries, contributing to the integration, economic growth and welfare of the population. Its starting point is to invest its resources in projects with development impact to reduce poverty and inequality, strengthening regional integration and the competitive insertion of its members into the world economy, while providing special attention to environmental sustainability.

Along these lines, Dr. Mossi commented that, "This anniversary is a source of pride for current officials and authorities and for all those who participated in the Institution's history. We had a good year, which was reflected through the ratification of CABEI's AA rating by such agencies as Moody´s, Standard and Poor´s and Japan Credit Rating, using the motto 'Thinking big and working big, yields significant results'.”

In 2019, CABEI carried out the most important operation in its history, the approval of financing to Costa Rica for US$550.0 million for the Project, “Fast Passenger Train of the Greater Metropolitan Area.” In addition, it carried out other initiatives such as the first issue of green bonds, the creation of the budget support program and the Bank's VIII general capital increase.

Likewise, the Bank issued its Zero Carbon Declaration, for which it will work on initiatives related to promoting climate change mitigation and prevention. Another noteworthy announcement this year was the Declaration on Access to Information, through which the Bank will adopt and implement accountability mechanisms, particularly with regard to transparency and access to information.

Finally, Dr. Mossi stated that, "Today, CABEI celebrates the beginning of its 60th anniversary and is proud to be part of a region full of opportunities."