CABEI and Korea Eximbank sign US$50 million credit agreement to reinforce COVID-19 actions in the region

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The agreement was signed this Wednesday between Dr. Dante Mossi, CABEI Executive President, and Mr. Moon-Kyu Bang, President of Korea Eximbank.

Tegucigalpa, May 26th, 2021.- The Central American Bank for Economic Integration (CABEI) signed a US$50 million credit agreement with the Republic of Korea's Korea Eximbank to strengthen COVID-19 actions in the region by financing public sector purchases of medical devices, equipment to meet countries' quarantine guidelines, and other general medical supplies.

CABEI Executive President, Dr. Dante Mossi, said, "This new facilitation will contribute significantly to addressing and mitigating the pandemic's effects in our region and, in turn, to structuring programs and projects to support national plans designed by health authorities. Undoubtedly, the Korean experience in handling the pandemic should serve as an example for us to replicate some of the measures and structures to face this type of crisis."

The agreement is part of the "Emergency COVID-19 Support, Preparedness and Economic Reactivation Program" for the Republics of Guatemala, El Salvador, Honduras, Costa Rica and the Dominican Republic, and aims to strengthen CABEI's timely financing to support the emergency response to COVID-19 in these five countries.

The agreement was signed by CABEI Executive President Dr. Dante Mossi and Mr. Moon-Kyu Bang, President of Korea Eximbank, and is another step in strengthening the productive and collaborative relationship that exists between CABEI and the Republic of Korea through its Ministry of Economy and Finance (MoEF) and Korea Eximbank, which has historically materialized with financing and non-reimbursable cooperation for up to US$750 million.

The Republic of Korea became an extra-regional partner of CABEI in December 2019 and currently has a subscribed capital of US$630 million with a 7.63% shareholding.