CABEI, SICA and the Government of Germany renew partnership to support the development of the region
They reaffirm their commitment to continue supporting strategies aimed at strengthening regional integration.
San Salvador, September 14, 2018.- Following the conclusion of the consultation meetings, the Central American Bank for Economic Integration (CABEI), the Central American Integration System, and the German Cooperation signed a protocol defining the issues to be prioritized in order to promote sustainable and inclusive development in the region.
During the consultations, the work teams gathered the necessary information to refine the formulation of initiatives to improve the environmental situation of the SICA countries so that they become resilient to the effects of climate change.
The consultations focused on the priority areas of the German cooperation: protection of the environment and natural resources; renewable energy and energy efficiency; and sustainable economic development.
The agreement foresees that CABEI, SICA and the Government of Germany will work to strengthen and energize cooperation in a coordinated manner, taking advantage of the three organizations' strengths towards achieving the Sustainable Development Goals in the region.
Partners in Regional Cooperation and Development
Cooperation between CABEI and the Federal Republic of Germany goes beyond a purely financial function, it also contributes significantly to the Bank's institutional and technical strengthening in the three priority areas of joint cooperation: sustainable economic development through the promotion of MSMEs; energy efficiency and renewable energies; and protection of the environment and natural resources, all of which are complemented by CABEI's mandate to contribute to the balanced economic and social development of its member countries, as a response to the needs defined by the governments of the region.
In this context, Germany has been one of the Bank's main sources of financing since 2002, when they first established relations. To date, the amount contributed to CABEI is 550.1 million Euros.