The Salvadoran government made the payment of its third and fourth installment linked to the subscription of shares with CABEI.
In a recent statement, the Central American Bank for Economic Integration (CABEI) highlighted the advance fulfillment of the Salvadoran government’s commitments to them.
According to CABEI, El Salvador made the payment of its third and fourth installment of eight annual installments linked to the subscription of 20,4000 series «A» shares, within the framework of the VIII General Capital Increase of the Bank.
The disbursement of the two cash payments from the administration of President Nayib Bukele amounts to $12.75 million.
The executive president of the bank, Dante Mossi, pointed out that the capital paid is a sign of the support that the Salvadoran government offers to the strengthening of the multilateral’s assets.
«This demonstrates the quality of partners that CABEI has, which, in addition to demonstrating its commitment to strengthening the financial and credit profile of the institution, strengthens the role that the bank plays in a complicated and volatile environment in international capital markets, to which are added the consequences and adverse effects of climate change in the region,» he said.
Mossi also stated that the multilateral’s authorized capital will be increased from $5,000 million to $7,000 million in 2020.The second increase in less than ten years.
«This increase confirms the high value of the CABEI franchise and the support of its partners, as well as its relevance for the region as the main channeler of financial resources, disbursing more than $34,000 million since its foundation in 1960,» added the senior executive.
In the country alone, CABEI finances security, education, construction, and energy programs, projects, and initiatives with a loan portfolio of $2,263 million.