CABEI approves US$2.5 million for initiative that will strengthen institutional capacity of member countries

21/08/2019

CABEI approved a financial contribution of US$2.5 million dollar to provide technical assistance, institutional strengthening and economic-financial integration to its member countries.

Tegucigalpa, August 22, 2019.- In order to increase the technical and specialized knowledge, strengthen and increase the capacities and promote the economic and financial integration of its member countries, the Central American Bank for Economic Integration (CABEI) approved a financial contribution of US$2.5 million dollars for the execution of Phase III (2019-2024) of the Regional Technical Assistance Center for Central America, Panama and the Dominican Republic (CAPTAC-DR).

CABEI's contribution for Phase III of CAPTAC-DR would be US$500 thousand per year for a period of five years, which is equivalent to a total amount of US$2.5 million.

CAPTAC-DR is one of the regional centers created by the International Monetary Fund (IMF) to offer technical assistance, institutional strengthening and economic-financial integration. It currently covers seven areas of action: tax administration, customs administration, public financial management, financial supervision, central banking, national account statistics and public finance statistics.

CABEI Executive President Dr. Dante Mossi highlighted the importance of having effective institutional and human capacities in the member countries in order to design and implement sound macroeconomic and financial policies.

In addition, he indicated that the financial support for this phase seeks to achieve the following objectives: inclusive growth, regional integration, fiscal policy, monetary policy and strengthening of the financial sector.

Back