Building development and equity in the region
The entity seeks to support the efforts of the countries of the region to improve equity, integration and sustainability of social inclusion programs.
Panama City, April 10, 2019.-In its role as a multilateral development organization, the Central American Bank for Economic Integration (CABEI) recognizes the importance of adequate management of such issues as poverty, social exclusion and their dimensions. Given the growing relevance of these issues in agendas of international cooperation, the beneficiary countries and as part of the ongoing process of institutional maturity, CABEI has designed the Program for the Reduction of Poverty and Economic and Social Exclusion (PRPEES).
To publicize this new scheme, a tour of presentations to the representatives of the ministerial portfolio of the governments of the region has been scheduled. One of the workshops was carried out in the CABEI regional office in Panama with the participation of government officials, who learned about the novelties of this new program.
CABEI supports economic and social inclusion
The purpose of PRPEES is to improve the quality of life of the region's inhabitants through the financing of operations to meet the investment needs of the poorest and most excluded communities in order to contribute to balanced regional development.
The program is aimed at the CABEI member countries: Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Belize, Panama and the Dominican Republic, and seeks to improve such sectors as education, housing, health, employment and social protection.
PRPEES will be financed with CABEI resources for up to US$569.1 million in approvals and with resources from external financing sources in order to increase resource availability. The financial conditions applicable to PRPEES will be concessional and up to 35% in the case of resources provided by CABEI.
The eligibility of the operations will be carried out through the application of criteria such as, operations within the defined geographical areas, pursuant to the multidimensional poverty maps. The areas of intervention, which include the education, health, housing, employment and social protection sectors, will be provided with projects that promote gender equity and the participation of excluded vulnerable people.
External funding sources may participate through CABEI or directly to co-finance operations. It will also be possible to channel resources to carry out preparatory actions, technical assistance and formulation of preinvestment studies.