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.

CABEI and Korea will promote trade and investment exchange in the Central American region

16/09/2021

Through US$750,000 in technical cooperation, it will promote export diversification, increased competitiveness, and the internationalization of MSMEs.

Tegucigalpa, September 14, 2021.- The Central American region will have the opportunity to strengthen its trade relations at the international level with the implementation of a Non-Reimbursable Technical Cooperation approved by the Central American Bank for Economic Integration and its extra-regional partner Korea under the Korea-CABEI Single Donor Trust Fund (KTF) in the amount of US$750,000.

These resources will be used to develop a comprehensive program linked to the Free Trade Agreement (FTA) signed between the countries of Central America and the Korean Republic, enabling the diversification of exports, increased competitiveness, the internationalization of MSMEs, and increased trade flows and integration between the countries.

"We continue to exercise our role as the bridge between Central America and the world, and this initiative opens up an opportunity for the countries to diversify their economies and boost their economic recovery in the post-COVID scenario.  With the FTA, we will have the possibility of liberalizing trade in services, establishing rules on intellectual property, promoting government purchases and investments, facilitating trade between the region and the Republic of Korea," said CABEI Executive President, Dr. Dante Mossi.

The scope of the cooperation includes strengthening knowledge and understanding of trade and investment opportunities, as well as improving the technical, institutional and operational capacities of key public and private stakeholders to enable them to take full advantage of the benefits of the FTA.

Non-Reimbursable Technical Cooperation will begin to be implemented during the fourth quarter of 2021.