Yesterday, December 1, 2022, the Government of Honduras failed to accept a proposal to resolve differences through mediation with the U.S. promoter and organizer of Próspera ZEDE, Honduras Próspera Inc.

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Previously, the Government of Honduras refused to engage in CAFTA-DR consultations with Honduras Próspera under customary ground rules that included guarantees of confidentiality of the discussions to ensure candor and good faith. Any negotiated solution would have been made public and subject to all the necessary approvals.

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Honduras Próspera’s latest proposal to be disregarded by the Government of Honduras invoked the Mediation Rules of the International Centre for Settlement of Investment Disputes (ICSID). Honduras Próspera had been hopeful that a formal international mediation process would have brought the parties together, empowered them to find common ground, and allowed for any differences to be worked out reasonably through negotiation.

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Honduras Próspera regrets that the Government of Honduras has not agreed to seek a negotiated solution. Honduras Próspera is a U.S. investor and had previously notified Honduras that it intended to submit the dispute to international arbitration under CAFTA-DR if a negotiated solution is not possible.

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A press conference is scheduled for Thursday, December 15, 2022, at 10:00 a.m.

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For more information, contact: medios@prospera.hn