|Type||Multilateral Development Bank|
The Central American Bank for Economic Integration - CABEI (BCIE in Spanish) was founded in 1960. It 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.
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.
CABEI's vision 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.
Apart from regional countries, Argentina and Colombia enjoy the capacity of receiving CABEI's loans and guarantees.
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.
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:
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.