CABEI participates in forum on challenges facing the new rurality of Latin America and the Caribbean
CABEI presented its experience in promoting and financing inclusive transformation through financial solutions.
Tegucigalpa, October 11, 2017. - While attending an invitation from the International Fund for Agricultural Development (IFAD), the Central American Bank for Economic Integration (CABEI) participated in a debate on the challenges facing the new rurality of Latin America and the Caribbean at Universidad Nacional de Cuyo located in Mendoza, Argentina,
This new rurality, as addressed at the event, focuses on human development and wellbeing through participation and social inclusion, strategic investment of the territory through the development of territorial development plans, infrastructure development and complementary services, such as specialized technical assistance and financing through the establishment of conditions that enable greater participation of the private sector, for example: Capital Funds and Venture Capital, among others.
During the thematic discussion among International Financial Institutions, CABEI’s Agribusiness Specialist, Mr. Angel Murillo, talked about the Bank’s efforts to provide financial solutions to the majorities through financial intermediation with a focus on providing financial products that promote the development of Micro, Small and Medium Enterprises (MSMEs).
In order to promote the regional financial system, increase access to credit for low-income communities, strengthen entrepreneurship and foster MSME access to markets, in 2016 CABEI approved US$169.1 million for the focus area of Financial Intermediation and Development Finance.
Similarly, CABEI has carried out a number of noteworthy credit operations and efforts in the SICA member countries to achieve water security through the establishment of integrated initiatives in the development of hydraulic works and the socioeconomic and environmental development of the territories, highlighting the CABEI approval in support of the Dominican Republic for the development of hydraulic works to integrally regulate and manage the water resource in the lower basin of the Yaque del Sur river.
The event brought together IFAD authorities and representatives from other United Nations agencies and international financial institutions and organizations to discuss the new paradigms that are reconfiguring the rural world in Latin America and the Caribbean, especially in those countries classified as middle income. Likewise, it reaffirmed the urgent need of providing more attention to the rural sector and of revitalizing investments in vulnerable groups and territories.
