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 promotes cooperation with Korea at forum held in Costa Rica
CABEI participates in Korea-Costa Rica Cooperation Forum and Business to Business (B2B) Encounters to promote cooperation, connectivity and technological infrastructure development.
San José, July 22, 2019.- Today, the Korea-Costa Rica Cooperation Forum and Business to Business (B2B) Encounters event was held at the Central American Bank for Economic Integration (CABEI) with the participation of organizations, public institutions, local governments and entrepreneurs.
The event was opened by the Ambassador of Korea to Costa Rica, Mr. Yoon Chan-sik; CABEI Director for Costa Rica, Mr. Ottón Solís; and the General Secretary of the Latin American Faculty of Social Sciences (FLACSO), Dr. Josset Altmann.
CABEI's representation began the day with an intervention in the panel denominated, "Trade between Korea and Costa Rica," in which the CABEI Country Manager Costa Rica, Mauricio Chacón, detailed the Bank's potential as an investment promoter of the Central American region with the Republic of Korea.
At the same time, he highlighted that the event represented an opportunity for the Bank to propose the fields it seeks to work in, including cooperation, technology, security, sanitation projects, wastewater treatment, water resources projects, renewable energy, urban development and public transportation.
The activity was sponsored by CABEI, the Korean Council for Latin America and the Caribbean (KCLAC) and the Korean Foreign Affairs Ministry with the cooperation of FLACSO within the framework of the signing of the Korea-Central America Free Trade Agreement.
