CABEI has US$898.9 million available for social investment and productivity programs in Guatemala
The approved operations focus on improving health, safety and justice, education and agricultural productivity.
Guatemala City, August 27, 2020.- In order to increase increase support for social and productive investment in the Republic of Guatemala, the Central American Bank for Economic Integration (CABEI) has recently approved financing for an amount of US$ 898.9 million, with which programs will be implemented, whose purpose is to improve the living conditions of the population.
Among the programs that will begin their execution in 2020 are: Investment Program in Hospital Infrastructure and Equipment through which the capacities of five national hospitals will be increased; as well as the Investment and Modernization Program for the Justice Sector that seeks to improve the justice sector care system and the prosecution of crime.
On the other hand, CABEI has approved resources that are under review by the Republic of Guatemala such as: the Investment Program in Infrastructure, Machinery and Equipment III Stage USAC, with which the educational conditions of the University of San Carlos will be improved; and the Program for the Economic Reactivation of the Coffee Subsector under which coffee plantations will be renewed in 20 of the 22 departments of the country.
“At CABEI, we have been diversifying our support to the Republic of Guatemala towards other relevant sectors to meet the needs of social and productive development of the population, approving programs focused on security, justice, health, agriculture and higher education”, said the Executive President of CABEI, Dr. Dante Mossi.
It should be noted that given the scope of the four projects approved by CABEI, the majority of the population is expected to benefit at the national level. It is also expected to generate around 78,125 jobs, of which 41% will be for women.
Guatemala has been a founding member country of CABEI since 1960, therefore it is one of the countries with the largest share capital in the institution along with El Salvador, Honduras, Nicaragua and Costa Rica. It is currently one of the countries that supports the increase in the Bank’s capital from $5,000 to $7,000 million, which will allow CABEI to increase financing for the development of the Central American region.