CABEI and France signed a Memorandum of Understanding to co-finance projects in Central America
CABEI and France will join efforts to extend co-financial actions to promote priority projects in the Central American region.
Tegucigalpa, May 27th, 2013.- CABEI and the Government of France signed a Memorandum of Understanding to establish full cooperation to maximize, through CABEI, the official support for development that France grants to the Central American countries by means of co-financing projects that are considered of high priority to the beneficiary countries.
The Memorandum was signed in Paris, France, by the Executive President of CABEI, Dr. Nich Rischbieth, and the Deputy Director General of the Treasury Directorate-General, Mrs. Claire Waysand.
The signed document marks the beginning of a strategic alliance motivated by the incorporation of the Republic of France to the Central American Integration System (SICA), on October 18th 2012, as an extra-regional observer, approved during the XXXVIII Summit of Heads of States and Government of SICA, which took place in San Salvador on December 16th of that same year.
"This agreement will deepen the bilateral relations between CABEI and France, through coordinating actions that promote coherent and effectiveness of the French official assistance for development, facilitate the joint identification of projects in the public sector with a high impact on development, and the mutual institutional interest in the Central American countries", said the Executive President of CABEI, Dr. Nick Rischbieth.
The first approach between CABEI and the French government development entities was formalized in the year 2010, when a loan contract was signed for EUR 50 million between CABEI and Promotion et Participation pour la Coopération Économique (PROPARCO), the financial arm of the French government for the development of the private sector.
