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 Korea support Panama's response to COVID-19 through donation of essential supplies
Through this initiative, high-quality biosafety equipment will be provided to support the health sector's emergency response efforts.
Panama City, October 28, 2021.- To support the actions of the Panamanian health sector in the containment and prevention of COVID-19 infection, the Central American Bank for Economic Integration (CABEI), through the CABEI-Korea Sole Donor Trust Fund (KTF), delivered 816,480 Korean KF94 masks to the Ministry of Health.
This non-reimbursable technical cooperation is equivalent to US$330,000 and will contribute to the protection of health care providers in the country's different health centers.
CABEI Executive President, Dr. Dante Mossi, emphasized, "This is yet another example of the support we have been providing to our member countries in addressing health emergencies, which we have been implementing since last year. Protecting people becomes much more relevant in times of crisis".
The supplies were delivered by CABEI Country Chief Officer in Panama, Carlos Moreno, to the Vice Minister of Health, Ivette Berrío, in the presence of the Director of the Republic of Korea at CABEI, Dongjoon Kim, Finance Manager and Secretary of the Korea Trust Fund, Danery Alvarado, and the Ambassador of the Republic of Korea in Panama, Won Hoon Cho.
During the event, the Vice Minister of Health, Ivette Berrío, said "this donation will contribute significantly by generating protective factors that facilitate a gradual and asymmetrical return to normality. Please be aware that this valuable donation will be used mainly for hospital support and for traceability equipment in the field, among other relevant uses".
This delivery is part of a total grant of US$3.0 million from the KTF for the benefit of nine CABEI partner countries to mitigate the spread of the pandemic.
