CABEI encourages alternatives and creation of new financing and sustainable development schemes

27/10/2023

The discussion took place in the Yucatan Peninsula, Mexico during the monthly Board of Directors meeting.

Tegucigalpa, October 27th, 2023.- The Central American Bank for Economic Integration (CABEI), inaugurated this morning the High Level Technical Meeting "Innovative Financing Schemes and Sustainable Development", which brings together the main multilateral institutions that offer financing with the objective of promoting sustainable financing alternatives for the benefit of Latin America.

At the event, which took place at the Grand Aqua Convention Center in Cancun and was presided over by the Governor of the State of Quintana Roo, María Elena Lezama Espinosa, and the Undersecretary of Treasury and Public Credit of Mexico, Gabriel Yorio, CABEI highlighted the milestones it has achieved in this process, playing an active and leading role in the Central American region by promoting the financing of social initiatives and the adaptation and mitigation of the effects of climate change.

The multilateral highlighted that, at the end of September 2023, it had raised US$2.146.3 billion in ESG (Environmental, Social and Governance) bond issuances in five capital markets, in four different currencies.

As part of its strategic agenda, CABEI promotes initiatives at the national level and of regional relevance through innovative financial and non-financial mechanisms that facilitate financing and technical assistance in priority sectors for environmental and social sustainability, including climate change mitigation and adaptation measures, aligned with the focus areas of its institutional strategic framework, as well as with the plans and policies defined by the countries.

Creation of alliances and collaboration spaces

With this meeting, CABEI seeks to take advantage of the progress made in the region's financial markets, and to take up and promote good practices to be exchanged in its member countries, such as those promoted by the Mexican government in the area of sustainable financing.

This exchange of experiences provides an opportunity to learn about the financing priorities of the countries of the region and becomes a space for proposing mechanisms and support systems for the development of a regional public debt market in Central America and the Dominican Republic that will generate a new and important avenue for integration, precisely the financial one.

The event was attended by renowned experts from multilateral organizations, including: Hiroshi Matano, Executive Vice President of the Multilateral Investment Guarantee Agency (MIGA); Gabriel Felpeto, Vice President for Finance of the Development Bank of Latin America and the Caribbean (CAF); and Alexandre Meira da Rosa, Manager of the Office of Strategic Planning and Development Effectiveness (IDB).

In addition, CABEI Governors provided technical expertise on financial innovation and CABEI's role as a promoter of integration and economic growth.

 

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