CABEI presents its experience with a support program for COVID-19 in a virtual session organized by FOPREL
In the session CABEI shared the experience of how it has worked to safeguard the health of the inhabitants of the region and the reactivation of the economy of its partner countries.
Tegucigalpa July 16th, 2020.- The Central American Bank for Economic Integration (CABEI), participated today in the XXIII Special Meeting of Presidents of the Legislative Branches of Central America, the Caribbean Basin and Mexico (FOPREL), with the objective of presenting the Emergency Program of Support and Preparation for COVID-19 and its economic reactivation.
During his participation the Executive President of CABEI, Dr. Dante Mossi, centered his analysis on the program that counts with resources available for US$1.96 billion, to face the health and economic crisis caused by the coronavirus pandemic.
He pointed out that in the first instance the component of purchase aid, regional supply of medicines, and medical equipment for early detection of COVID-19 was defined, CABEI has so far supported its partner countries with an amount of more than US$4.0 million.
The executive added that the program contemplates up to US$50.0 million for each country, in order to mitigate the pandemic, the "idea is to give oxygen to the budgets so that they can take short-term actions," he explained.
In his speech, he indicated that the program includes "a contingency line for central banks" for US$1 billion, to face problems of liquidity and monetary mass, to which three countries have already joined: Nicaragua, El Salvador, and Honduras, he said.
In addition, the program includes "a $350 million liquidity plan for commercial banks. It may not be a lot of money, but we have it for the first people who come in with their case. And this is a program to be fulfilled in the short term.”