In response to the global pandemic, CABEI launches the Emergency Support and Preparedness Program for COVID-19 and economic reactivation of US$1.96 billion.
The Program responds to the efforts for the prevention and containment of the health emergency faced by the member countries of the Bank. In addition to implementing short and medium-term actions with the aim of strengthening the regional economy.
The program that is already underway integrates the following components:
- Emergency aid with non-reimbursable funds (donation) for a total amount of US$8 million, which have already been delivered to the Central American Integration System (SICA) countries.
- Regional purchase and supply of medicines and medical equipment for early detection of COVID-19, for a maximum amount of US$4.2 million.
- To finance public sector operations, an amount of up to US$600 million is available, distributed as follows: US$400 million for SICA countries and US$200 million for other non-regional member countries. The program may finance eligible operations, in the sovereign and non-sovereign public sectors with US$50 million per country.
- US$1 billion to support the Liquidity Management of Central Banks, may be granted to each founding and regional non-founding member country.
- Support to the financial sector, with US$350 million destined to finance structured operations of the eligible countries, which contribute to the reactivation of the economies through the use of different financial products. The main focus will be on supporting the MYPIMES sector to strengthen the business fabric of the region.
- Finally, the program includes specific support to areas of the central american region, such as the Trifinio zone, which was provided with US$ 25,000 for prevention and contingency campaigns.
Emergency Support and Preparedness Program for COVID-19 and Economic Reactivation
CABEI with the support from German Financial Cooperation through KfW and the European Union contribute US$350 million to MSMEs affected by COVID-19