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CABEI has “plan b” to continue financing Ortega if the sanctions are tightened

CABEI gets ready to "improve our support" for the Ortega dictatorship

The sanctions regime against Nicaragua is an issue that could affect the approval and disbursement of the loans that the Central American Bank for Economic Integration (CABEI) grants to Nicaragua. According to Dante Mossi, president of said entity, if the sanctions are tightened they have a “Plan B” to support “humanitarian” projects in Nicaragua.

Mossi is referring to a license that they should request from the Office of Asset Control (OFAC) of the United States Department of the Treasury, the main country that has designated sanctions against officials of the dictatorship of Daniel Ortega and Rosario Murillo.

The president of CABEI told the Voice of America that “as a multilateral bank, if the sanctions regime continues to increase, the bank will be increasingly limited in what it can finance or not.”

Related news: Mossi defends loans to Ortega: “We do not work for political complaints”

“In the extreme case that the sanctions are extremely high, we would apply for an OFAC license, which basically tends to work on strictly humanitarian issues and continue that activity, basically that is our plan B,” Mossi explained.

Ortega’s mandate is “legitimate”, says Mossi

The president of the bank affirmed that an election “has been disputed” was held in Nicaragua, but he forgot to mention that seven presidential candidates were imprisoned and three of the political parties that could become an opposition option were annulled prior to the elections. 2021 voting.

“It is a choice that we have to live with. In my opinion, in the documents that I have in front of me, there is a legitimate government that I have to work with,” she defended.

More than 40 countries in the international community were unaware of the results of the 2021 presidential vote, when Ortega and Murillo were re-elected for a new term of five more years in power.

“Mossi washes his hands”

Mossi affirmed that the directors of each country in CABEI are the ones who approve the loans for the projects they are going to finance, that the claims regarding the disbursements to the countries must be sent to the directors of the member states.

«In my desire to open the bank a little more, that the directors (of each country) of the bank have greater interference, in the sense that if there is a claim from citizens of a country that a project in another country should not be approved , that that voice rises to the respective channel that are the directors. The directors are the ones who approve the projects, they vote and what goes and what doesn’t go, “he said.

CABEI is the main “sponsor” of the dictatorship of Daniel Ortega and Rosario Murillo. In recent years, the financing of this regional entity went from representing 21.39% of the Public Investment Program (PIP) in 2017 to 39.14% in 2022. In total, they have disbursed 3.5 billion dollars in five years for Nicaragua.

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