CABEI grants US$750,000 to incorporate El Salvador into the Regional Customs Union process
In this new stage of the program, we expect to boost the economy of the countries participating in the program, generate development opportunities for citizens and regional industry.
San Salvador, October 14, 2020 - The Central American Bank For Economic Integration (CABEI), approved a Non-Reimbursable Technical Cooperation for an amount of US$750 thousand dollars to the Republic of El Salvador to finance the "Support for the Incorporation of the Republic of El Salvador to the Process of Deep Integration towards the Free Transit of People and Goods Initiated between the Republics of Guatemala and Honduras" whose executor will be the General Direction of Customs (DGA) of the Republic of El Salvador.
With these resources the customs processes will be modernized, innovated and expedited, through improvements to their physical and technological infrastructure, so that the institutions of the Government of El Salvador can strengthen work management, becoming modern customs offices that facilitate and expedite regional trade, providing quality services.
In relation to this cooperation, CABEI's Executive President, Dr. Dante Mossi, indicated that: "with this initiative CABEI actively participates in the implementation of its 2020-2024 Institutional Strategy: "CABEI, Pillar of the Region's Sustainable Development" by effectively promoting regional integration, preferably financing regional initiatives with impact on two or more countries."
It should be noted that in 2016 the multilateral agency granted non-reimbursable technical cooperation in the amount of US$1.5 million to finance the "Support to the Deep Integration Process towards the Free Transit of People and Goods between the Republics of Guatemala and Honduras" program, which has been extremely successful so far.
CABEI reiterates its strong support to the country, which is a founding member since 1960, mainly in these moments of crisis in which the support of multilateral banking through timely loans becomes crucial for the region.