Kingdom of Spain approves CABEI's Agreement on Immunities and Privileges

Tegucigalpa June 29, 2022.- On Monday, the Spanish Council of Ministers approved the Agreement authorizing the signing and provisional application of the Agreement on Immunities and Privileges between the Kingdom of Spain and the Central American Bank for Economic Integration (CABEI), as a step towards the opening of its office in the country.

By means of this agreement, CABEI is granted the facilities, immunities and prerogatives necessary for the performance of its activities in Spain, in accordance with the provisions of Chapter VI of the Bank's Constitutive Agreement.

The Executive President of the multilateral development institution, Dr. Dante Mossi, commented: "Although we have been working together for 17 years, the opening of an office in Spain is a firm step forward in our Institutional Strategy to be closer to the Bank's partner countries, strengthening relations of cooperation and trust, whose main beneficiaries are Central Americans."

Mossi explained that "Spain is a strategic partner in the implementation of key projects for the economic development of Central American institutions and companies. Through CABEI, the support of the Kingdom of Spain is notable in sectors such as MSMEs, water and sanitation projects, hospital improvement and equipment, among others." CABEI's headquarters in Madrid is the first office of this multilateral institution and the gateway to the European continent.

CABEI's decision to open an office in Madrid is considered an opportunity to consolidate Spain's role as a link between Central America and Europe. This office is expected to enable, in the short term, a closer relationship between Spanish companies interested in this area and the main Central American multilateral financier.