CABEI presents financial mechanisms to support private investment in Guatemala and the region
With the new foreign direct investment fund, the Bank is making US$200 million available for foreign companies wishing to enter and expand operations in SICA countries. Through its financial intermediation programs, since 2020 the multilateral has supported the Guatemalan business sector with financing totaling US$257.5 million.
Guatemala City, December 6th. 2022. – In a face-to-face event held in Cayalá, the Central American Bank for Economic Integration (CABEI) presented the financial products available to enable the private corporate sector to participate in the region's local markets, as well as the strategic programs it promotes in support of specific sectors such as MSMEs, foreign trade, renewable energy and energy efficiency, among others.
CABEI recently approved the US$200 million Foreign Direct Investment Fund, which will make resources available to foreign investors to promote projects in the countries that are part of the Central American Integration System (SICA), through a financial product that breaks down barriers of scale, such as historical requirements of regulatory bodies for new companies, leverage restrictions, among others.
"We recognize the importance of the private sector in boosting the economy; therefore, we are committed to supporting our member countries with new financial mechanisms that enable projects driven by this sector. In the last three years, we have channeled US$257.5 million in financial resources to the Guatemalan business sector, mainly supporting the MSME sector in its post-pandemic recovery," said CABEI Executive President, Dr. Dante Mossi.
For his part, the President of the Republic of Guatemala, Dr. Alejandro Giammattei, emphasized that "CABEI has been a strategic ally in supporting our country's economy through different financial programs that serve key sectors that boost competitiveness and generate sources of employment. With the creation of the direct foreign investment fund, CABEI supports the initiatives promoted by Guatemala to position our country and the region as an investment destination for large companies".
The activity was attended by the President of the Bank of Guatemala and CABEI Governor, Alvaro Gonzalez Ricci, Minister of Economy, Janio Rosales, as well as representatives from embassies, commercial attachés, the public sector, the private sector and the financial sector.
CABEI plans to continue strengthening its strategic alliances in Guatemala through these meetings, which provide timely information on the financing mechanisms available to different stakeholders in the region.
