On 29 December 2008, the Oesterreichische Entwicklungsbank (Development Bank of Austria) signed a credit line for the Central American Bank for Economic Integration (CABEI).
The credit line amounts to 15 million euros and will be used to finance medium- and long-term projects in the private sector of Central America. At the same time the Development Bank of Austria will set up a Trust Fund at CABEI whose funds will support the development of private sector projects, especially with respect to small and medium sized enterprises.
CABEI
The Central American Bank for Economic Integration was founded by the governments of Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica in 1960 and has its seat in Tegucigalpa, Honduras. Today, it is the largest financial institution in Central America, its strategic axes are based on the fight against poverty, regional integration and the competitive insertion of Central America in the global economy. As of 31 December 2007 CABEI recorded an outstanding loan volume of approx. 4 bn. USD. The bank is operating in the founding member countries, as well as in Panama, Colombia and the Dominican Republic.