During CABEI’s most important annual event, the Central American Housing and Sustainable Habitat Development Program (VIDHAS) in Guatemala was granted a USD100 million loan for social housing projects.
The 57th Ordinary Meeting of the Board of Governors of the Central American Bank for Economic Integration (CABEI) concluded with important announcements for the economic, social and environmental development of Central America and the Bank’s member countries.
As a new CABEI member, Cuba will contribute to strengthening the integration process and relations of the countries in the Central American Integration System (SICA) with the Caribbean by promoting the economic and social integration of the region and strengthening the geographical diversification of CABEI’s portfolio.
Meanwhile, the approval of a $100 million loan for social housing construction will benefit more than 20 thousand Guatemalan families by improving the quality of life of people living in poverty or extreme poverty.
Another noteworthy announcement was an USD86.5 million loan for the partial financing of the National Program for Sustainable Electrification and Renewable Energy in Nicaragua, which will expand urban and rural electrification networks through clean energy projects, benefiting more than 20 thousand families in Nicaragua.
In the framework of the 57th Board of Governors meeting, the following achievements made by CABEI during the 2016 fiscal year were presented:
• The approval of operations amounting to US$2.11 billion, which represented the Bank’s largest contribution throughout the last nine years; historically, it is the largest amount allocated to the Central American public sector.
• The increase in capitalization by the Dominican Republic and Panama, who both increased their participation in the Bank’s capital share by USD197.4 million each, reaching a total subscription of USD256 million for each country.
• The entry of Belize as a Non-Founding Regional Member with a US$25.0 million participation in the Bank’s share capital.
• The accreditation of CABEI as an observer of the UN General Assembly; as a Permanent Observer of the United Nations Framework Convention on Climate Change in the framework of COP22; and as a regional entity with direct access to the Green Climate Fund.
Source: BCIE. Read article here.
11 May, 2017
