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 will develop projects to combat climate change in the region with Korea's Environmental Industry and Technology Institute
![[Translate to English:]](/fileadmin/_processed_/6/1/csm_20220712154134-D8K_1842_6c5d287927.jpg "[Translate to English:]")
The multilateral and KEITI, the Republic of Korea's leading state institute in the field of climate change, water management and environmental programs, signed a memorandum of understanding.
Seoul, July xx, 2022. – The member countries of the Central American Bank for Central American Integration (CABEI) will be able to develop environmental policies, programs and projects on climate change with the support of high-level experts in this area, such as those from Korea's Environmental Industry and Technology Institute, thanks to a memorandum of understanding signed between the multilateral and the Institute.
The collaboration framework includes the provision of a technical assistance service for project preparation, as well as activities in environmental sectors, air pollution abatement, control and monitoring, water management, protection, sustainable use and rehabilitation of soil and groundwater, as well as climate change data production and management, and climate change and/or environmental education and awareness.
"This agreement is very important for our region because we will be able to learn from KEITI's expertise on climate change, a problem that CABEI faces from different angles, with an Environmental and Social Policy, and strategic alliances such as this one, with which we can help our economies become greener every day" explained CABEI Executive President, Dr. Dante Mossi.
CABEI and KEITI have been working together since 2021, when the latter approved US$400,000 of the US$600,000 cost of the feasibility studies that will enable the modernization and expansion of the wastewater treatment plant and existing sewage systems in the city of Liberia, Costa Rica, benefiting more than 84,000 people. As well as a contribution of US$200,000 for the small-scale environmental installation project in the Republic of Panama.
