CABEI subscribes financing with El Salvador for US $ 86 million dollars

San Salvador, July 30, 2018.- The Central American Bank for Economic Integration (CABEI) signed a loan with the Republic of El Salvador for up to eighty million dollars (US $ 80,000,000.00) and a non-reimbursable financial cooperation for six million dollars (US $ 6,000,000.00), destined to partially finance the "High Productivity, Sustainable and Resilient Coffee Renewal Program in El Salvador".

To finance the program, CABEI plans to use its own resources and funds from the Republic of China (Taiwan), through the Ministry of Foreign Affairs (MOFA) and the International Cooperation and Development Fund (TaiwanICDF).

In this way, the program seeks to respond to the challenges of the coffee sector in El Salvador, supporting the renovation of 20,777.4 manzanas of the crop, contributing in the transfer of sustainable technologies, increasing resilience capacities, improving the institutional framework related to coffee, with the aim of contributing to improve the quality of life of the families of 4,155 small and medium producers.

The High Productivity, Sustainable and Resilient Coffee Renewal Program in El Salvador is part of CABEI's Pilot Program to Address the Population Affected by Coffee Pests and the Promotion of Practices for Sustainable Coffee Growing in Central America.

The financing is part of the Institutional Strategy 2015-2019 of the BCIE: Integrating Development and Competitiveness, impacting on the Strategic Axis of Social Development, contributing to the reduction of extreme poverty and hunger, and ensuring the sustainability of the environment, contributing to the Area of  Rural Development and Environment.

The agreement was signed by the Director of El Salvador for CABEI, Mr. Guillermo Funes, and by the Minister of Finance, Mr. Nelson Fuentes. Participants as witnesses of honor were the representatives of the Embassy of the Republic of China (Taiwan) in El Salvador and the Ministry of Agriculture and Livestock, with the presence of clients and representatives of the CABEI.