CENTRAL AMERICAN BANK FOR ECONOMIC INTEGRATION (CABEI)HEADQUARTERSBoulevard Suyapa Telephone: [504]228-2243 P.O. Box 772 Facsimile: [504]228-2185 Tegucigalpa [504]228-2186/7 Honduras E-mail: relex@bcie.org Internet: www.bcie.org Executive President: ... Pablo R. SCHNEIDER Directors Guatemala ... Jorge NUFIO Vela El Salvador ... Enrique OÑATE Muyshondt Honduras ... Eduardo MEMBREÑO Nicaragua ... Leonardo SOMARRIBA González Costa Rica ... Juan Rafael LIZANO Saenz Mexico ... Pedro SPECIA García China ... Chuan HUA Argentina ... Carlos Americo BASCO Colombia ... Claudia RODRIGUEZ Management Executive Vice President: ... Jaime CHÁVEZ A. Financial Division Manager: ... Luis Ernesto SANTAMARíA Acting Credit Division Manager: ... Xiomara S. de IZAGUIRRE Administrative Division Manager: Julio SUÁREZ Chief Economist: ... Marvin TAYLOR D. General Legal Counsel: ... Alejandro RODRIGUEZ Secretary: ... José Antonio RAMOS Acting Comptroller: ... Luis NAVARRO Internal Auditor: ... Gustavo DIAZ EMBUS LANGUAGES: English, SpanishESTABLISHMENT AND FUNCTIONSThe Constitutive Agreement establishing the Bank was signed in Managua, Nicaragua on December 13, 1960 by the Governments of El Salvador, Guatemala, Honduras, and Nicaragua. The Bank began operations on May 8, 1961. The Government of Costa Rica signed the Agreement on July 23, 1962 and became a full member of the Bank on September 23, 1963. The Protocol of Reforms to the Constitutive Agreement of the Bank went into force in January 1992, opening the Bank's capital to the participation of non-regional members. On November 10, 1992, Mexico and the Republic of China became the first non-regional member countries of the Bank. Argentina became a member on March 4, 1995 and Colombia on April 8, 1997. Further modifications to the Constitutive Agreement went into force on February 2003. The Central American Bank for Economic Integration (CABEI) is the financial institution of the Central American Economic Integration and, as such, is a juridical institution of international character, fully authorized to undertake financial agreements. The capital of the Bank is subscribed by the five founding members and the non-regional member countries. The Bank's main objective is to implement the economic integration and the balanced economic growth of the member countries. In order to fulfill its objectives and in compliance with what is prescribed in its Constitutive Agreement, as well as in its regulations and policies, CABEI attends mostly infrastructure programs of projects that complete the existing regional system, long-term investment in industries of a regional nature, investments in the agriculture and livestock sector, financing of businesses that need to expand and upgrade their operations, social development, and conservation and protection of natural resources and the environment. COMPOSITION5 regional member countries: Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua 4 non-regional member countries: Argentina, China, Colombia, Mexico STRUCTUREThe Board of Governors is the highest authority of the Bank. Each founding country member is represented by a Governor and an Alternate who are the Ministers of Economy or Finance and the Presidents of the respective Central Banks. Each non-regional member appoints a Governor and an Alternate. The Board of Directors is composed of up to nine members, five being elected by the Governors of each of the founding countries to represent their respective countries and the other four by the Governors representing the non-regional members. The Directors are elected for terms of five and two years (founding and non-regional respectively). The Executive President is elected by the Board of Governors for a term of five years and is the highest ranking functionary of the Bank and serves as its legal representative. GENERAL PUBLICATIONSAnnual Report; Financial Highlights; Revista de la Integración y el Desarrollo de Centroamérica; Cuadernos de Economia y Finanzas; Cuadernos Socioeconómicos UPDATED: May 30, 2003
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