Central American bank to issue bonds in Taiwan

Business Materials 21 August 2008 09:23 (UTC +04:00)

The Central American Bank for Economic Integration (CABEI) is to launch its fifth bond issue in Taiwan to raise funds for economic development in Central America, Taiwan's Central Bank said Thursday.

CABEI has applied to issue Taiwan-dollar bonds worth 7 billion Taiwan dollars (225 million US dollars), and the Central Bank has given it permission to issue the bonds before September 2010, the Central Bank said in a statement, the dpa reported.

CABEI has not announced the date for the bond issue.

Since 1997, CABEI has launched four Taiwan-dollar bond issues in Taiwan, worth 17.8 billion Taiwan dollars.

Founded in 1960 in Tegucigalpa, Honduras, the development bank is Central America's principal multilateral bank and financial arm. It has five founding members - Guatemala, Honduras, El Salvador, Nicaragua and Costa Rica - as well as seven non-regional members and one beneficiary member.

Taiwan, which has diplomatic ties with five Central American nations, joined CABEI as a non-regional member in 1992.