CABEI, the bridge between the Republic of Korea and Central America.
Korea is CABEI’s most recent extra- regional member, having finalized its incorporation process in 2020. It is the extra-regional member with the second largest shareholding with 7.67%, a subscribed capital of USD630.00 million and capital contributions of USD33.75 million. The country actively supports Central America through various financial contribution contracts for an amount of USD800.0 million. During 2020, the Bank contracted an On-Lending Facility with the Export-Import Bank of Korea (KEXIM) for USD50.0 million to finance operations under the COVID-19 Emergency Support, Preparedness, and Economic Reactivation Program. Likewise, on August 19 of 2020 a USD 50 million contribution was received by the Korea-CABEI Partnership Single Donor Trust Fund (KTF). A second contribution was received in 2021 for the amount of USD 10 million.
In 2022, CABEI opened its representative office in the Republic of Korea located in the International Finance Center (IFC), Yeouido, Seoul, Korea.
CABEI begins operations from the Republic of China (Taiwan), establishing a new milestone for the Central American region in Asia
The Central American Development Bank begins a new phase in the Asian international market.
Tegucigalpa, July 5th, 2021.- The Central American Bank for Economic Integration (CABEI) announces the start of operations of its Country Office in the Republic of China (Taiwan), with which it seeks to expand its presence in the Asian market, strengthen cooperation and continue serving its member countries.
Located in one of the most influential financial districts in the city of Taipei, the CABEI country office will focus on promoting the region's competitiveness, strengthening business relations, attracting foreign investment, managing relationship with potential partners and contributing to the commercial exchange of goods, services and knowledge between the countries.
"A year ago we embarked on the challenge of opening this branch in Taipei. Despite navigating a pandemic, CABEI has been able to continue working with its member countries while expanding its geographic presence to better attend the needs of its members," said CABEI Executive President, Dr. Dante Mossi.
The new country office will support CABEI in delivering on its purpose to provide robust financial solutions by allowing Asian markets to have the bank within arm´s reach. Furthermore, for the Central American region it represents access to a wider pool of technical, economic and financial resources, explained Mossi.
The Agreement for the Establishment of the Country Office was signed in April by CABEI Executive President, Dr. Dante Mossi, the Governor of the Republic of China (Taiwan) to CABEI and Minister of Finance, Dr. Jain-Rong Su; CABEI Governor for Honduras and then Minister of Finance, Mr. Marco Midence; Taiwan's Minister of Foreign Affairs, Dr. Jaushieh Joseph Wu; and the Governor of the Central Bank of the Republic of China (Taiwan), Dr. Chin-Long Yang.
The Republic of China (Taiwan) joined CABEI in 1992 and through the International Cooperation and Development Fund (TaiwanICDF) has been a a pivotal source of financing in key development sectors such as agriculture, food security, education, and micro, small and medium-sized enterprises. Most recently, in response to the COVID-19 pandemic and hurricanes Eta and Iota, the Republic of China (Taiwan) has contributed US$266.7 million in cooperation funds to the region.
