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.
Seoul Selected as the Location for CABEI Korea Office
CABEI Korea Office to open in 2021.
Tegucigalpa, June 20, 2021.- The Central American Bank for Economic Integration (CABEI) has informed the Korean government and Seoul Metropolitan Government of its intention to establish the CABEI Korea Office on the 16th floor of the ONE IFC building in Yeouido, Seoul.
This decision is a follow-up measure to the Bank’s decision on March 31st, 2020 to establish a Korea Office. This came as a result of the Korea-CABEI partnership that Korea and CABEI have engaged in thus far despite the current challenging situation caused by COVID-19.
CABEI is an International Financial Institution that Korea joined in December 2019, and the most dominant Multilateral Development Bank for the Central American Integration System channeling about 50% of all the resources that multilaterals assign to these countries. CABEI has consolidated its financial position as the best credit in Latin American with an AA rating.
The CABEI Korea Office to be opened in Seoul will be in charge of supporting economic and investment cooperation between Korea and Central America by linking excellent technology and finance resources from Korean companies with Central American markets.
The Korean government will continue to cooperate with CABEI regarding the details of measures to establish and operate the CABEI Korea Office with the goal of setting up the office by the end of this year.
