CABEI contributes to preventive actions against natural disasters in Central America
In recent years the CABEI has accompanied the region with preventive initiatives to cope with natural disasters and contribute to environmental sustainability.
The Executive Vice President of the Central American Bank for Economic Integration (CABEI), attorney Alejandro Rodríguez Zamora, today inaugurated the second ordinary session of the Council of Representatives of the Center for Prevention of Natural Disasters in Central America (CEPREDENAC), appointment which involves various authorities and representatives of institutions of the Central American Integration System (SICA).
In its inaugural exhibition the Executive Vice President of CABEI, attorney Alejandro Rodríguez Zamora, said the activity will address regional issues related to a complex topic, which directly affects the Central American society, such as the integrated management of risk, the advances in information and communication systems, the coordination and cooperation of subregional mechanisms and a regional policy of equality and gender equity, among others.
In addition, he noted that CABEI has accompanied the countries of the region by funding initiatives in the areas of infrastructure, energy, transport, social services, agriculture, fisheries and community services, among others.
To date, the Executive Vice President mentioned that 2,319 projects have materialized amounting to USD $18,655 million dollars.
During his speech, the officer from the multilateral bank, unveiled that in the pillar of climate change and natural disaster prevention CABEI works closely with different organizations, both international and regional, in the formulation of a care program for the Central American Dry Corridor as part of the process of construction of the Resilience Agenda for Central America.
In relation to the prevention of natural disasters, CABEI supports the Council of Ministers of Treasury or Finance of Central America, Panama and Dominican Republic (COSEFIN) in the ''Caribbean Catastrophe Risk Insurance Facility'' (CCRIF) initiative, which would allow the SICA countries to be partners in this initiative, which would have access to insurance against natural disasters at a more affordable price.
This insurance will allow countries to have liquid assets immediately to cope with the effects of natural disasters and transfer the risk to international reinsurance markets.
Finally, the Vice President reiterated the willingness of CABEI to support member countries in the process of identifying the main needs on this matter and strengthen public policy makers, in order to achieve higher levels of social and economic well-being.
Non-reimbursable cooperation and environmental sustainability
In the fiscal year 2013 CABEI approved 3 non-reimbursable cooperation grants for emergency aid, amounting to USD $ 250,000 dollars each to the Republic of Argentina, the United States of Mexico and the Republic of Nicaragua, with the purpose of addressing the needs of populations affected by natural disasters and health emergencies.
During the 2013 fiscal year CABEI has contributed to support the countries with new approvals in order to maintain its commitment to environmental sustainability. CABEI approved funding for U.S. $ 24.1 million to Honduras for the expansion of the "Cerro de Hula" wind farm project, which will contribute to reduce the country’s oil bill and the atmospheric greenhouse-gas emissions.
In this same line of action CABEI approved $23.0 million to Nicaragua for the purpose of implementing the "Program Adjustment Changes in Markets and the Effects of Climate Change ".
The approved funds will help rural families improve their income and their quality of life through increased value generated by the coffee and cocoa chains, joining the markets and reducing their vulnerability to climate change.
