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CABEI owes itself to its member countries former president says

Managua, Mar 12 (Prensa Latina) The former president of the Central American Bank for Economic Integration (CABEI), Danti Mossi, stated that the entity owes itself to its member countries, and cleared up misinformation linked to financing nations such as Nicaragua.

In statements to Nicaraguan radio, Mossi explained that each founding country of CABEI (Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica) has the right to an annual quota of 800 million dollars. This amount is approved by the bank’s board of directors, but not all nations have the resources. “Government requests are analyzed by different technical committees that discuss them in the presence of directors, and if the president finds that the project meets all the requirements, it is taken to the Board of Directors (of the bank) and approved,” he commented.

Mossi made such explanations after the current president of CABEI, Ana Gisela Sánchez, addressed in recent statements to regional media outlets, the granting of financing to the founding countries of the entity, allegedly showing “favoritism” towards El Salvador and Nicaragua.

“It is a fact that we currently have a higher level of portfolio concentration, with El Salvador and Nicaragua being the countries that receive the most funds. My goal is for us to have a more diversified portfolio,” Sánchez said.

Mossi, who was president of CABEI during the 2018-2023 period, described as disinformation what Sánchez expressed, since according to him, out of the institution’s member nations, Costa Rica is the country with the greatest support since the bank came into existence. “I can reiterate again and again: there was never favoritism, there was never a country that was not attended to; I am surprised by (Sanchez’s) statements because there is massive misinformation, the country that has received the most support from CABEI is Costa Rica, followed by El Salvador and then Nicaragua,” he stressed.

According to Mossi, Nicaragua has a very dynamic program, as it executes loans in an orderly manner; he also recalled how workers from Costa Rican and Honduran companies doing business told him about the use of a calendar and payment on time. “That is what makes Nicaragua tend to recycle its loan portfolio faster,” he noted.