Central American Bank
Approves Contingency
Fund
Guatemala - The Central
American Bank for
Economic Integration (BCIE)
created a contingency
fund of us$500 million
dollars for the regional
countries, in views of
the financial crisis
affecting the world.
Nick Rischbieth, the
newly elected BCIE
president, informed the
objective of the measure
is to help alleviate the
lack of credits and
liquidity problems.
“This important thing is
to point out that BCIE
continues supporting the
central bank, and has
not withdrawn liquidity
lines as US institutions
have done. The idea is
to maintain the
support,” he added.
Rischbieth is a Honduran
with a doctorate in
finance, and was elected
for the post during the
Governors' Assembly of
the entity this week in
the Guatemalan capital.
BCIE also plans to
create other financial
programs for small and
middle enterprises and
agriculture, as well as
housing, infrastructure,
and inter-regional trade
projects.
The institution is
headquartered in
Tegucigalpa and was
created in 1960 by
Guatemala, El Salvador,
Honduras, Nicaragua, and
Costa Rica, as part of
the regional integration
process.
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