CABEI highlights its commitment to promoting rail infrastructure in the region during the ALAMYS Annual Conference
• The 37th Annual Congress of the Latin American Association of Metros and Subways (ALAMYS) will be held in San José from December 1 to 5.
San José, December 4, 2024.- The Central American Bank for Economic Integration (CABEI) reaffirmed its commitment to the development of sustainable and modern transportation systems in the region during its participation in the 37th Annual Congress of the Latin American Association of Metros and Subways (ALAMYS), held in San José, Costa Rica.
The event, which brought together experts and leaders of the railway industry from Latin America and Spain to promote technological exchange and strengthen modernization and productivity strategies in the sector, included various panels such as “The role of multilateral financial organizations in the financing of railway projects”, in which CABEI's manager in Costa Rica, Álvaro Alfaro, participated, together with the European Investment Bank, the Inter-American Development Bank and the World Bank.
During his speech, Alfaro emphasized that CABEI is the main financial arm for the region, providing close to 50% of the resources to its member countries, as well as promoting rail infrastructure such as the emblematic projects it is currently supporting: the construction, equipping and commissioning of the Electric Train in the Greater Metropolitan Area of Costa Rica, co-financed together with the Green Climate Fund for US$550 million, as well as the construction of Line 2C of the Santo Domingo Metro in the Dominican Republic, with joint financing from the Green Climate Fund for US$250 million.
The 12 technical cooperations supported by the multilateral institution with more than US$5.8 million were also explained, destined for initiatives such as the integration of public bus and subway systems in West Panama, the development of Line 5 of Panama's Metro, feasibility studies for the Pacific Train in El Salvador and the Santo Domingo-Santiago Electric Train in the Dominican Republic, and preliminary studies for the Rapid Passenger Train in the Greater Metropolitan Area and the Limonense Electric Freight Train in Costa Rica.
During the Congress, CABEI reaffirmed its mission to promote solutions that transform mobility in the region, highlighting its leadership in financing strategic projects that enhance the sustainability and economic competitiveness of Central America, working with governments and strategic allies to promote regional integration through investments in quality rail infrastructure.
