Summary of operations
Road Infrastructure: Financing for 148 kilometers of highways.
Energy: Financing for the generation of 80 megawatts of clean renewable energy.
Agro Sector: US$ 60 million for the strengthening of the agricultural sector with a sustainable technological approach.
A 228% increase in the amount estimated in the 2021-2026 country strategy, reaching US$ 1.8 billion. In the previous five-year period the disbursement amounted US$ 533.9 million.
PROJECTS
Coral Highway Project
It consisted of the construction of a 70-kilometer-long, 4-lane highway, for which financing of US$70.0 million was allocated.
Improvement and Expansion of the Eastern Road Corridor for road sections
San Pedro de Macorís-La Romana Section, La Romana Beltway Section and Eastern Tourist Boulevard Section, totaling 78 kilometers in length and representing the best road infrastructure in the country.
Palomino Hydroelectric Project
With a clean and renewable energy generation capacity of 80 megawatts, it is located in the Province of San Juan. For its execution, the Bank allocated financing for a total amount of US$ 130.0 million
Construction of a 50-kilometer gas pipeline in San Pedro de Macorís
Loan in favor of AES Dominicana for a total amount of US$54.00 million.
Montegrande Multipurpose Dam Project Phase III
With current financing of US$249.6 million
Through the Korea-CABEI Partnership Single Donor Trust Fund (KTF), CABEI supports the identification and preparation of investment programs and projects for the countries affected by Hurricanes Eta and Iota
The Republic of Korea will donate $350,000 to conduct studies related to the identification and preparation of investment programs and projects that support the redevelopment of countries affected by recent natural disasters, also taking into consideration climate adaptation measures.
Tegucigalpa, Honduras. January 08, 2020- The Central American Bank for Economic Integration (CABEI) has received approval from the Republic of Korea for a non-reimbursable Technical Cooperation within the framework of the Korea-CABEI Partnership Single Donor Trust Fund (KTF). Such technical cooperation aims to support vulnerable member countries, such as Guatemala, Nicaragua and Honduras. These member countries of the Central American region were severely affected by natural disasters, the effects of which have been further exacerbated due to the emerging crisis of climate change.
Through this Technical Cooperation to be executed by CABEI, the necessary support will be provided to the beneficiary countries so that they can implement successful strategies in relation to adequate management for the mitigation of climate change and it will also contribute to the incorporation of the best practices of the Republic of Korea regarding urbanization, water and sanitation and other priority sectors. Likewise, it seeks to contribute to the reconstruction actions undertaken in the region, which has consecutively faced two large-scale hurricanes amid the pandemic.
The Executive President of CABEI, Dr. Dante Mossi, stated that the initiative is part of the Resilient Reconstruction Program of Central America, which totals $ 2,513.0 million, and highlighted this technical cooperation as a key component of the Program. Mr. Mossi has confidence that this technical cooperation will be essential for the development of projects to support the adaptation and mitigation of climate change that the governments of the region have been implementing to date.
Likewise, the Executive President mentioned that “the participation of the Bank as the implementing entity of this non-reimbursable Technical Cooperation granted within the framework of the Korea-CABEI Partnership Single Donor Trust Fund , will allow to take one step further for the implementation of the Bank's 2020 strategy 2020- 2024, which prioritizes economic and environmental sustainability as the main axis for the development of the region."
The execution of this technical cooperation is expected to begin during the first quarter of 2021.
