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 donate more than 816,000 masks to Honduras to confront COVID-19
Tegucigalpa, November 17, 2021. – In order to support actions to contain and prevent the spread of COVID-19 and to protect the personnel in the health sector in Honduras, the Central American Bank for Economic Integration (CABEI) and Korea, through the Korea-CABEI Single Donor Trust Fund (KTF), delivered 816,480 KF94 masks of Korean origin to the Ministry of Health on Wednesday.
CABEI Executive President, Dr. Dante Mossi, emphasized, "CABEI continues to work in different ways to mitigate the effects of the pandemic in our region, and today we are pleased to join the efforts of Honduran authorities to continue protecting the population in the face of the COVID-19 health emergency.
The supplies were delivered by the Chief Country Officer Andrea Kafati to the Secretary of State in the Office of Health, Alba Consuelo Flores, in the presence of the directors of the Republic of Korea and the Republic of Honduras at CABEI, Dongjoon Kim and Catherine Chang, respectively, and the Finance Manager and Secretary of the Korea Trust Fund (KTF), Danery Alvarado.
The total amount of the in-kind donation is equivalent to US$330,000 and comes from a US$3.0 million regional cooperation from the KTF for the benefit of nine CABEI member countries. The Bank will supervise the execution of this donation to ensure that it is carried out in accordance with internally established norms and procedures, and the Ministry of Health will be in charge of distributing the masks in the coming weeks.
