CABEI and Germany establish priorities in favor of SICA countries’ development

17/10/2017
El BCIE reconoció que para la implementación de las iniciativas regionales es fundamental contar con el apoyo de socios estratégicos y cooperantes que vengan a contribuir y unirse a los esfuerzos de desarrollo e integración regional.
El BCIE reconoció que para la implementación de las iniciativas regionales es fundamental contar con el apoyo de socios estratégicos y cooperantes que vengan a contribuir y unirse a los esfuerzos de desarrollo e integración regional.

Through German cooperation, CABEI will implement projects related to renewable energy, energy efficiency, housing and environmental protection.

Tegucigalpa, October 17, 2017. - At a regional level, the Central American Bank for Economic Integration (CABEI) is committed to the implementation of actions, initiatives and projects that are part of the regional agenda of the countries of the Central American Integration System (SICA) through the financing of projects in five pillars: Economic Integration; Social Integration; Climate Change and Disaster Prevention; Regional Democratic Security; and Institutional Strengthening
During negotiations held among SICA, CABEI and Germany, the Bank's team of specialists and other delegations identified areas of cooperation that are in line with the priorities defined in the SICA regional agenda and in the post 2015 development agenda by using the strengths of each one of the secretariats and institutions that make up SICA.

On this occasion, the CABEI official delegation recognized that it is essential for the implementation of regional initiatives to have the support of strategic and cooperating partners, who can contribute to and join regional development and integration efforts.

Likewise, the Federal Republic of Germany is one of the region’s main strategic partners, which demonstrates its commitment to the implementation and execution of projects that respond to the needs identified in regional strategies and policies.
Regarding the development cooperation field.

In the specific case of cooperation between CABEI and Germany, it goes beyond a purely financial function, but also contributes significantly to the institutional and technical strengthening of CABEI in the three priority areas of joint cooperation: sustainable economic development through the promotion of MSMEs; energy efficiency and renewable energies; and environmental and natural resource protection; these joint areas of cooperation are complemented by CABEI’s mandate to contribute to the balanced economic and social development of its member countries, as a response to the needs defined by the governments of the region.

It is important to point out that Germany is one of the Bank's main sources of financing. Since 2002 when the relationship was established to date, it has provided EUR€550.1 million in contributions to CABEI.

The current negotiation session is the culmination of the consultation process that was held between the parties in February of this year. From that date until today, CABEI has been working closely with German cooperation to prepare financing proposals for the programs agreed upon in such consultations in order to culminate the negotiation process. CABEI thanks Germany for its continued commitment to the development of the Central American region and in particular to the initiatives that have been funded through CABEI.

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