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CABEI to open regional office in Panama

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CABEI to open regional office in Panama

The ,or CABEI, plans to open a regional office in Panama to support its public and privatesector investment projects in the country, Panama's Finance Ministry said announcedon its website.

The moveis a "strategic" decision by the bank that confirms the "logisticaladvantages" of operating in Panama, according to a statement. Until now, thebank's operations for Panama have been managed from its headquarters in Honduras'capital city, Tegucigalpa.

The decisionwas announced during CABEI's recent annual governors' meeting held in Panama. Duringthe meeting, Panama Finance Minister Dulcidio De La Guardia replaced his Colombiancounterpart, Mauricio Cárdenas, as president of the bank.

De LaGuardia also signed an agreement with CABEI CEO Nick Rischbieth to increase Panama'sshare capital in the bank, which will allow the country to have access to more financingfor public and private investments, as well as "a voice and a vote" inthe bank's decisions.