CABEI emphasizes its strategic role in the development and integration of Central America
During his speech at the Development Forum of the Brazilian Development Association (ABDE), CABEI Executive President Dr. Dante Mossi highlighted the effective and timely support provided to the region to address and mitigate the COVID-19 pandemic.
Tegucigalpa, April 27, 2021.- The role of the Central American Bank for Economic Integration (CABEI) as the Bank of Central America has been fundamental in the region's integration process and the search for more sustainable economies.
This was highlighted on Tuesday by CABEI Executive President, Dr. Dante Mossi, during his intervention at the Development Forum of the Brazilian Development Association (ABDE), where he detailed that the Bank's disbursements between 2004 and 2018 represented 46.0% of the total made by multilateral banks in the region.
"CABEI's mission is to promote the integration, balanced economic and social development of the region, including our founding and non-founding regional partners based on our five-year strategy that maintains five strategic axes: Environmental and Social Sustainability, Sustainable Competitiveness, Regional Integration, Human Development and Social Inclusion, and a transversal axis of Gender Equity," explained Mossi.
During the ABDE panel "Development and Integration in Latin America," Dr. Mossi reflected on the importance of continuing to promote development in the region with special emphasis on vulnerable groups. Along these lines, he noted that during 2020 CABEI approved US$3,459.1 million and disbursed US$2,538.8 million, milestones for the institution, which will be used to finance projects and initiatives of different types such as health, road infrastructure, housing, among others, for the benefit of its member countries.
In response to the impacts that the pandemic would generate in Central American countries, by the end of March 2020, CABEI approved the COVID-19 Emergency Support and Preparedness Program and its economic reactivation with the objective of accompanying the prevention and containment efforts of the health emergency in the Bank's member countries. It also implemented short- and medium-term actions aimed at strengthening the regional economy, and the program currently amounts to US$3.06 billion.
Dr. Mossi concluded that the region must continue to make more rapid progress in addressing the major challenges it faces, and assured that over the next few years the Bank will be financing various projects and programs to promote sustainable development in the region.