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 its partner, the Republic of Korea deepen strategic and integral cooperation in the region
Among the beneficiary sectors are trade, agriculture, health and innovation.
Tegucigalpa, November 7th, 2022.- The Central American Bank for Economic Integration (CABEI) and its partner the Republic of Korea explored new cooperation and investment opportunities at the "Korea-CABEI Cooperative Forum" inaugurated this morning in this capital city.
The seminar, organized by the Korean Council for Latin America and the Caribbean (KCLAC) and CABEI, was sponsored by the Korean Ministry of Foreign Affairs.
During the inauguration ceremony, CABEI's Executive President, Dr. Dante Mossi, expressed his gratitude for "Korea's strong commitment and tireless work with the region, demonstrated through various contributions totaling US$850 million."
Mossi explained that this support has been made possible through financial mechanisms such as the EDCF Cofinancing Facility and the Single Donor Trust Fund (KTF) with the Ministry of Economy; and the Export Credit Line and Loan with Korea’s EximBank, as well as with KCLAC, with whom an agreement was recently signed to foster cooperation, promote sustainable regional economic development and support the expansion of the private sector.
Throughout the years CABEI and Korea have maintained a very close and solid relationship "we have maintained a friendship and solidarity in various fields such as economics, trade, culture and infrastructure," concluded Mossi.
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