Finnish export credit agency Finnvera and Central American Bank for Economic Integration (Cabei) have signed a memorandum of understanding in Helsinki.
Both institutions wish to strengthen their relationship in implementing projects with Finnish companies in Central America. Until now CabeiI has acted as a borrower or guarantor in Finnvera-backed transactions.
Under the established new framework Cabei may now also be eligible as a direct beneficiary of guarantees issued by Finnvera without the need of a third financial institution to fund the transactions.
Finnvera has to date guaranteed Cabei-backed financing in Central America worth €
130mn. Pipeline for new projects is now worth more than €