The Diplomat
The Central American Bank for Economic Integration (CABEI) and the Official Credit Institute (ICO) yesterday signed a financing agreement for an amount of 150 million dollars (140 million euros) to support Spanish companies that implement green and sustainable investment projects in Central America.
In support of Spanish companies located in the countries of the region, projects that contribute to combating climate change, sustainable development, growth, wealth distribution and job creation will be promoted, as well as initiatives that are aligned with the Sustainable Development Goals (SDGs).
The contract was signed at the new CABEI Representative Office in Spain by the bank’s Executive President, Dante Mossi, and the President of ICO, José Carlos García de Quevedo, who pointed out that this agreement will allow CABEI to “channel new resources” to increase trade between Spain and Central America.
“The signing of this new credit line demonstrates the strength of the relationship between CABEI and ICO, being the fifth agreement reached between both entities since 2017, which add up to a total value of $414 million (€388 million). We are confident that with this agreement we will continue to benefit both local and Spanish companies,” explained Mossi.
For his part, the president of ICO highlighted the Institute’s “firm” commitment to supporting the internationalisation of Spanish companies and boosting their investment and development plans in Latin America. “At ICO we innovate with products that promote sustainable economic growth and a green transition”, he stressed.
The four previous financing agreements have made it possible to support 44 projects in the Central American region, 19 of which have been classified as sustainable. In addition, 80% of the projects funded under this partnership have been for projects of less than $13.6 million (12.7 million euros), which demonstrates “the great capillarity” of the organisation in the region.
