©Reuters. CABEI will issue a bond dedicated to Taiwan’s support for the development of Central America
Tegucigalpa, Aug 11 (.).- The Central American Bank for Economic Integration (CABEI) announced this Thursday the issuance of a bond for at least 600 million dollars to finance development projects in Central America and dedicated to the 30 years of the incorporation of Taiwan to the regional financial body.
“The most significant investment we have made is the first contact to launch a commemorative bond for 30 years” of CABEI and Taiwan supporting the development of Central America, the president of the regional financial entity, Dante Mossi, told Efe.
Last week, although it has been in operation for a year, Mossi inaugurated CABEI’s office in Taiwan, one of the Bank’s first non-regional partners, which he joined in 1992 with a contribution of 150 million dollars, which today stands at 770 million dollars of capital.
“We want to celebrate this 30-year relationship by launching a thematic bond in the Republic of Taiwan to finance the entire development agenda of the Central American region,” explained the head of CABEI, who today spoke to journalists about the results of his tour of Taipei. .
The bond, which could be called “Dragon”, will be presented in the coming months and will be for no less than 600 million dollars, which means a third of CABEI’s financing needs for each year, Mossi said.
He stressed that the commemorative bond will finance development projects, especially renewable energy, electric mobility and support for small and medium-sized entrepreneurs (SMEs) in the agricultural sector.
ATTRACT MORE INVESTMENT FROM TAIWAN
Mossi thanked Taiwan for “all the financial support” it has given through capital and issued bonds, and stated that “now we are ready to attract Taiwanese companies to compete and establish themselves in the Central American region and become partners of our companies to make Central America a prosperous area”.
In addition, he stated that the opening of CABEI’s office in Taipei marks “a facilitation milestone” for companies from the island to do business in the region.
Last week, the financial institution presented the website serviciosbcie.org, available for the first time in Mandarin, so that Taiwanese companies can “see the business opportunities they can do through CABEI,” he added.
For Mossi, the most important result of the work tour is “to take Taiwan’s relationship with Central America to a new level.”
Despite the distance between the Central American region and the island, CABEI seeks to ensure “more investment” from Taiwan in Central American countries, he said.
Mossi also announced a $10 million guarantee fund to finance small and medium-sized businesses in Belize, Guatemala and Honduras.
“Here Taiwan joins other partners such as UN Women, the European Union and CABEI’s own funds,” he added.
He also said that Taiwan was the first member country to support the Emergency Program to support the covid-19 pandemic, with 130 million dollars, and is CABEI’s largest partner.
TAIWAN COULD FUND TURBINE FOR HYDROPOWER
Taiwan could also finance the installation of the fifth turbine of the Honduran hydroelectric plant Francisco Morazán, said the director of CABEI in Honduras, Belinda Martínez.
He pointed out that Taiwan is in “the best conditions and dispositions to finance the fifth turbine” of the dam, known as El Cajon.
“I am very optimistic and very likely that we will achieve this financing and we can have that fifth turbine” of the dam, which has generated a total of 300 megawatts so far, he stressed.
Martínez said that for now the amount of the investment to install the fifth turbine of the hydroelectric plant is unknown.
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