CABEI and FONPLATA sign Memorandum of Understanding

Washington, October 10, 2014.- Today, the Central American Bank for Economic Integration (CABEI) and the Financial Fund for the Development of the River Plate Basin (FONPLATA, Spanish acronym) signed a Memorandum of Understanding, which seeks to strengthen the relationship between the two institutions in order to promote development through institutional cooperation and technical assistance.

The agreement was signed by CABEI Executive President Dr. Nick Rischbieth and FONPLATA Executive President Juan Notaro during the annual meeting of the World Bank in the US capital.

CABEI Executive President Dr. Nick Rischbieth explained that the agreement seeks to promote an exchange of experiences, information and documentation to lead to a reciprocal understanding of the activities that each institution is carrying out, in programs of mutual interest or that they wish to strengthen in their respective areas of influence.

Dr. Rischbieth added that, "This instrument seeks to contribute to the countries of the region through the development and strengthening of markets, the creation of conditions to encourage domestic and foreign investment and the implementation of initiatives aimed at improving business competitiveness."

For his part, FONPLATA’s Executive President Juan Notaro said that, "The exchange of experiences and information is a first step to strengthening ties and planning programs of mutual interest to both institutions."

After the agreement signing, Mr. Notaro added that, "The support and experience of a bank with CABEI’s background will allow FONPLATA to develop improved capacities and tools in order to achieve its goals."

Ultimately, the Memorandum of Understanding seeks to promote dialogue and the exchange of perspectives in order to achieve improved and more efficient practices for the development of the member countries of both entities. One of the Memorandum’s objectives is the exchange of information to promote such cooperation, and in particular, to support to activities related to the institutional growth of each institution.