CABEI and Taiwan’s International Cooperation and Development Fund promote educational credit

San Salvador, June 8, 2016. – Today, the Central American Bank for Economic Integration (CABEI) signed the first cooperation agreement between the CABEI Educational Credit Program and the Monica Herrera School of Communication (ECMH).

The agreement will contribute to human capital formation in the Bank’s member countries by providing resources to the regional financial system and Central American institutions dedicated to educational funding.  

The agreement was signed by the CABEI Country Director for El Salvador, Mr. Guillermo Funes, and the Financial Director of the Monica Herrera School of Communication, Mr. Hermann Wilhelm Bruch Melendez.

Taiwanese Ambassador to El Salvador, Mr. Andrea Sing Ying Lee participated as a witness of honor at the signing ceremony.   As a result of this effort, ECMH students will have an additional option for financing their higher education studies.

The initiative will provide improved training options for the region’s citizens in order to increase the competitiveness of the Central American nations.   This initiative is part of the CABEI Educational Credit Program, a mechanism created to promote increased educational rates in the Central American countries.

The Program is financed with CABEI’s own funds and with contributions from Taiwan (Republic of China) through its International Cooperation and Development Fund (Taiwan ICDF).   During the event, the CABEI Director for El Salvador explained that this strategic alliance is part of efforts promoted by CABEI to create high-impact initiatives in the region in order to foster the development of the Central American peoples.  

Mr. Funes reaffirmed the Bank’s commitment to providing Intermediary Financial Institutions (IFIs) with top-level competitive services that promote social and economic development.   The Monica Herrera School of Communication (ECMH) received its accreditation from the Ministry of Education in 1997.

It operates as a specialized private institute of higher education whose mission is to train professional entrepreneurs and innovators to be capable of interpreting change in order to transform their environment.