The Republic of Korea paid the second installment of its initial subscription as an extra-regional member of CABEI
This reflects the quality of CABEI´s member countries and their commitment to and understanding of the needs of the Central American region.
Tegucigalpa, January 29, 2021 – On January 27, 2021, the Republic of Korea made a cash payment of US$28.1 million, corresponding to the second of four (4) annual, equal and consecutive installments of capital payable corresponding to the subscription of 45,000 Series "B" shares by the Republic of Korea.
Executive President of the Central American Bank for Economic Integration (CABEI), Dr. Dante Mossi highlighted that "it is unquestionable that the incorporation of the Republic of Korea provides investment opportunities in regional integration projects with a high impact on development and strengthening the competitiveness of the region in the world economy. Additionally, this incorporation has been fundamental for the consolidation of relations between CABEI, the countries of the Central American region and the Korea, which will undoubtedly continue to bring many benefits to our countries, particularly in these times of emergency."
In December 2019, the Republic of Korea became an extraregional member of CABEI with the entry into full force and effect of the "Protocol of Accession of the Republic of Korea to the Constitutive Agreement of the Central American Bank for Economic Integration", once Korea informed the Bank of its compliance with the constitutional and legal requirements to become an extraregional member. The Asian country is one of the extraregional members with the largest shareholding in the institution and the second Asian country to become a member of CABEI.
The incorporation of Korea has further strengthened CABEI's financial profile, given the country's high credit rating. It has also strengthened the Bank´s institutional governance and made it possible to optimize the benefits of the cooperation schemes signed between CABEI and Korean institutions in favor of the countries of the region.
