CABEI reiterates its commitment to improve the welfare and quality of life of the citizens of its member countries
10.05.2019 00:00 By: CABEI News Age: 106 days
Tegucigalpa, May 10, 2019 - The Central American Bank for Economic Integration (CABEI) is an international development finance organization and the financial agent of the countries of the Central American Integration System. In addition to being an apolitical entity with the institutional mandate of promoting the integration and balanced economic and social development of the region, it attending to the needs of its member countries.
In view of the comments received regarding CABEI financing in Nicaragua, it states the following:
1. Nicaragua has been a CABEI founding member since December 1960. To date, the Bank's portfolio with this country has 19 active projects and 8 additional projects awaiting first disbursement, which generate 140,000 direct and indirect jobs. The audit results for 2018 reflect that Nicaragua has complied with all the norms and procedures established by the Bank in the execution of its projects and that it is up to date with its debt commitments.
2. As a financial arm and most relevant multilateral development organization to the region of the countries of the Central American Integration System, CABEI reiterates its commitment to be an apolitical strategic ally of the member countries regarding the provision of financial solutions that contribute to the generation of employment and improve the welfare and quality of life of the citizens.
3. CABEI is a collegial body composed of the representatives of its member countries, who approve all credit operations that reflect the agreements between the member states with the commitment to support their citizens, while respecting and complying with all the technical, legal, risk assessment and monitoring criteria applied in all its operations.
4. CABEI reiterates its firm will to continue contributing to strengthening the bonds of cooperation with its member countries, as well as its commitment to the process of regional integration. In addition, the Bank appeals for a peaceful solution in the framework of dialogue among the Nicaraguan society in adherence to human rights and with the support of other specialized agencies in the field.