CABEI and ACS sign cooperation agreement to strengthen regional integration projects

Tegucigalpa, October 9, 2020.-Central American Bank for Economic Integration (CABEI) and the Association of Caribbean States (ACS) signed a memorandum of understanding to promote cooperation and exchange of experiences to strengthen the development of projects focused on relevant issues such as regional integration, climate change, environment, infrastructure, among others.

The agreement will allow for the sharing of tools and experiences that will generate the creation of new cooperation, financing, and development schemes for projects with a potential impact on regional development and integration.

Among the collaboration areas are the protection and preservation of the environment and natural resources, initiatives focused on promoting mobility and transportation, development of regional trade and external economic relations, inclusion of women, youth and vulnerable groups according to the ACS and CABEI guidelines in the Sustainable Development Goals 2030 framework; and projects with a focus on climate change, environment and integrated risk management.

CABEI's Executive President, Dr. Dante Mossi, expressed that this agreement seeks to bring the Central American region much closer to the Caribbean, there is an enormous potential for project development and initiatives such as multimodal maritime transport, which would provide a logistics solution for regional interconnection, and promote investment opportunities and new jobs by enhancing economic and social integration for both areas. 

ACS Secretary General Dr. June Soomer said that in considering regional cooperation during the COVID-19 pandemic, solidarity and joint action are extremely important. “At this time, when we need to rely on each other even more, we need to consolidate cooperation into practical and tangible undertakings. Our projects will develop not only infrastructure but the people of our region and ensure our sustainable development.”.

The alliance between the two will allow both institutions to serve the partner countries in their struggle to improve their populations' quality of life, face the adverse effects of climate change and respond to the effects of diseases such as COVID-19.

It is important to note that CABEI has held the status of ACS Observer Agency since 2007. The agreement serves to strengthen that connection for increased cooperation among the countries of the Greater Caribbean.