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 approves cooperation for feasibility and design studies for Port Haina in the Dominican Republic
• Resources of US$1.6 million will be used to prepare technical studies for sanitation and road infrastructure.
Santo Domingo, June 23, 2021.- The Central American Bank for Economic Integration (CABEI) approved technical cooperation in the amount of US$1.6 million to finance technical and financial feasibility studies for the integral development of Port Haina in the Dominican Republic.
These resources will be used to develop the project's conceptual framework, including prefeasibility studies for the drainage of the ravines, construction of storm drainage, expansion of the clean water distribution system, construction of the sanitary sewerage system, road infrastructure improvements, and integrated solid waste management.
CABEI Executive President, Dr. Dante Mossi highlighted ''this first stage of the project will increase the municipality of Haina's competitiveness, considered one of the country's main economic engines, and will also improve the surrounding areas' social conditions, and therefore the quality of life of its inhabitants."
The studies will be carried out over a period of 21 months from the start of the consultancy and three disbursements are expected to be made. This contingent recovery technical cooperation will be executed by the Dominican Port Authority and is in line with CABEI's Institutional Strategy, promoting Human Development and Social Inclusion in order to enhance the region's inhabitants' sustainable wellbeing.
