CABEI and UFG join forces to promote educational credit for Salvadoran students
A new university will provide access to financing for postgraduate university studies.
San Salvador, June 22, 2016. - Today, the Central American Bank for Economic Integration (CABEI) signed a cooperation agreement through the CABEI Educational Credit Program (PBCE) with Universidad Francisco Gavidia (UFG) in El Salvador.
The agreement aims to strengthen the competitiveness of Salvadoran students seeking to continue their higher education and graduate studies at UFG. The agreement will also allow the UFG to expand its academic offerings to students from CABEI member countries in the Central American region.
The agreement was signed by the CABEI Country Director for El Salvador, Mr. Guillermo Funes, and UFG President, Mario Antonio Ruiz Ramirez. Taiwanese (Republic of China) Ambassador to El Salvador Mr. Andrea Sing Ying Lee served as witness of honor at the signing ceremony.
This initiative is part of the PBCE, which is a mechanism created to promote increased educational rates in the Central American countries. The PBCE is financed with CABEI’s own funds and with contributions from Taiwan (the Republic of China) awarded through its International Cooperation and Development Fund (ICDF).
During the event, the CABEI Director for El Salvador Mr. Guillermo Funes Cartagena explained that this strategic alliance is part of multiple efforts promoted by CABEI to create high-impact initiatives in the region in order to foster the development of Central Americans.
Mr. Funes reaffirmed the Bank’s commitment to providing Intermediary Financial Institutions (IFIs) with top-level competitive services that promote social and economic development.
To date, the PBCE has disbursed a total of US$5.2 million, benefiting a total of 451 students (217 women and 234 men). The PBCE is offered by 22 universities located in El Salvador, Honduras, Nicaragua and Costa Rica.
