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.

Health personnel in El Salvador receive more than 32,000 COVID-19 protective suits donated by CABEI and Korea

02/12/2021

San Salvador, December 2, 2021.- In order to confront the spread of the pandemic caused by COVID-19 in El Salvador and to protect the personnel of the Ministry of Health (MINSAL), this Thursday, the Central American Bank for Economic Integration (CABEI) and the Republic of Korea, through the CABEI-Korea Sole Donor Trust Fund (KTF), formalized the donation of more than 32 thousand protective suits for said institution.

The non-reimbursable technical cooperation, equivalent to US$330,000, includes, in addition to the special protective suits, 32,000 shoe covers for the same purpose.

"We remain committed to actions that help to counteract the COVID-19 pandemic. With the support of the Government of Korea, we are delivering these supplies, which we hope will be of great help to the health personnel of El Salvador," said Executive President Dante Mossi during the opening of the activity.

The event was attended by CABEI Vice President, Jaime Díaz Palacios; CABEI-Korea Single Donor Trust Fund (KTF) Administrator, Mr. Kunmin Kim; Director for the Republic of El Salvador, Mr. Luis Rodríguez; and Country Chief Officer, Raúl Castaneda. The authorities of the Republic of El Salvador were represented by the Minister and Vice Minister of Health, Dr. Francisco Alabi and his team, who expressed their gratitude for the support provided by the donation of these supplies.

This support is part of the US$3 million from the KTF for the benefit of nine CABEI member countries to mitigate the spread of the pandemic. In the case of El Salvador, MINSAL will be in charge of its distribution in the coming weeks and will issue a detailed report to CABEI.