CABEI approves US$50 million to Honduras for prevention, detection and treatment of COVID-19
Honduras is the first country in the region to receive resources from the Development Policy Operation (DPO) program, reaffirming CABEI's support to increase actions to contain the Pandemic in the country.
Tegucigalpa May 26, 2020.- The Central American Bank for Economic Integration (CABEI) approved US$50 million to the Republic of Honduras to increase efforts for the prevention, detection and treatment of COVID-19, as well as to mitigate the pandemic's economic impact on the country.
The funds aim to provide fast-disbursement financial resources to strengthen preparedness and response capacities in the face of the pandemic. In addition, the resources will protect vulnerable groups and employment, foster macroeconomic stability and promote economic recovery in the country.
CABEI Executive President, Dr. Dante Mossi, stated that, “The Bank supports the efforts of each of its member countries in dealing with this crisis, reaffirming its commitment and support to doing everything possible during the health emergency to overcome this global economic challenge."
By means of this operation, the Republic of Honduras becomes the first country to receive financing from CABEI's Development Policy Operation (DPO) program; this new instrument was approved by the Bank in January of this year in order to support the countries of the SICA region in the implementation of priority policy actions and development results that strengthen the maintenance of macroeconomic stability.
The operation falls under the framework of CABEI's COVID-19 Regional Support, Preparedness and Economic Reactivation Program, specifically its third component: Credit to Finance Public Sector Operations.