CABEI and Korea Eximbank strengthen cooperative ties

Last Monday, Dr. Nick Rischbieth, the Executive President of the Central American Bank for Economic Integration (CABEI) met with Mr. Kim Sung-taek, Senior Executive Director of Korea Eximbank, to discuss the Bank’s joint work agenda with the regional organization.

During the meeting, the two discussed a number of points, including the modifications to CABEI’s Constitutive Agreement, whose purpose is to establish a governance structure that reflects the Regional Integration System and to consolidate CABEI’s status as a preferential creditor and the support of its member countries, stated Rischbieth.

He highlighted the business and investment opportunities in the region; CABEI’s role as the financial agent of the Central American Integration System; and its role as promotor of economic relations between Central America and the rest of the world, and especially with Korea.

He also noted the important role to be played by CABEI in the implementation of the Free Trade Agreement between the Central American region and Korea. 

In addition, Dr. Rischbieth and Mr. Sung-taek discussed their mutual interest in establishing a US$100 million concessional credit line to finance development projects in Central America.

The CABEI Executive President emphasized the strong institutional alliance between the two institutions for over 17 years to collaborate on facilitating economic development and on promoting Korea’s economic cooperation with Central America, as well as to provide financial support for trade and investment.

Mr. Sung-taek was accompanied by several Korea Eximbank officers, including Choo-Hwan Kim, Yoo Hyeon-Ha and Yu Kwang Hoon.