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 and Korean Council for Latin America and the Caribbean join efforts to promote sustainable economic development
Tegucigalpa, September 30, 2021.- The Central American Bank for Economic Integration (CABEI) and the Korean Council for Latin America and the Caribbean (KCLAC) signed a Memorandum of Understanding to promote initiatives that foster cooperation and promote sustainable economic development in the region.
Within the framework of this agreement, both institutions will work together to promote joint programs, projects, initiatives, and activities that foster cooperation, promote sustainable economic development benefiting CABEI member countries and support the development of their private sectors.
CABEI Executive President, Dr. Dante Mossi, emphasized: "We are joining forces with organizations from our partner, the Korean Republic, to learn from best practices and apply them to boost competitiveness in the countries of our region.
KCLAC is a non-governmental organization that seeks to promote economic, social, and cultural exchanges between Korea and Latin American and Caribbean countries by implementing operations related to this purpose and cooperating with relevant organizations in the region.
CABEI Executive President, Dr. Dante Mossi, CABEI Director for Korea, Mr. Dongjoon Kim, and KCLAC President, Mr. Soong-chull Shin, participated in the signing event.
