Central American Bank for Economic Integration

Central American Integration System Tegucigalpa World Trade Organization
Formation1960; 60 years ago (1960)
TypeMultilateral Development Bank
Legal statusTreaty
HeadquartersTegucigalpa, Honduras
Membership
15 countries
Key people
Websitewww.bcie.org/en/

The Central American Bank for Economic Integration - CABEI (BCIE in Spanish) was founded in 1960. Is an international multilateral development financial institution. Its resources are invested in projects that foster development to reduce poverty and inequality; strengthen regional integration and the competitive insertion of its member countries in the global economy; providing special attention to environmental sustainability. Its headquarters are in Tegucigalpa (Honduras) and has regional offices in Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica and Panama.

Mission

CABEI is a multilateral development bank whose mission is to promote the economic integration and the balanced economic and social development of the Central American region, which includes the founding countries and the non-founding regional countries, attending and aligning itself with the interests of all of its member countries.[2]

Vision

CABEI's vision[2] consists of being the strategic ally of its member countries in the provision of financial solutions that contribute to the creation of employment and improvement of the well-being and quality of life of its citizens.

Members

Apart from regional countries, Argentina and Colombia enjoy the capacity of receiving CABEI's loans and guarantees.

Functions

CABEI is the development bank for Central America, its strategic partner and the main purveyor of resources: by late 2009, it had approved $14,603.3 million since its inception for the development of the region.[4]

As a regional financing institution, CABEI supports both public and private sectors and specializes in raising and channeling external money to promote investment in its action areas, which are:

Structure

CABEI's maximum authority is the Governors' Assembly, integrated by Ministers of Economy and central bank Governors of member countries.

Besides, CABEI's Founding Covenant includes other authorities: Directory, as the organ responsible for the bank's direction; President, elected by the Governors' Assembly; Vice president, elected by the Directory; and other officials deemed necessary for the institution's functioning.

See also

References

  1. ^ ""Senior Management". Banco Centroamericano de Integración Económica - BCIE".
  2. ^ a b CABEI. "Institutional Information". Central American Bank for Economic Integration. Retrieved 31 March 2017.
  3. ^ CABEI. "Belize". Central American Bank for Economic Integration. CABEI. Retrieved 31 March 2017.
  4. ^ Rodas-Martini, Pablo; et al. (December 2010). Contribución del BCIE al Desarrollo de Centroamérica: 50 Años de Historia (PDF). Tegucigalpa, Honduras: CABEI. p. 20. ISBN 978-99926-665-6-2. Archived from the original (PDF) on 31 March 2017. Retrieved 31 March 2017.