Through the Korea-CABEI Partnership Single Donor Trust Fund (KTF), CABEI will promote the establishment of a biotechnology manufacturing cluster in the Central American region


The Republic of Korea has approved $ 350,000 for the development of a biotechnology cluster in the region, with an emphasis on health, medical equipment, services and manufacturing sectors.

Tegucigalpa, Honduras, January 11, 2020-The Central American Bank for Economic Integration (CABEI) has received approval from the Republic of Korea for a non-reimbursable Technical Cooperation within the framework of the Korea-CABEI Partnership Single Donor Trust Fund (KTF). Through this Technical Cooperation it is intended to create a cluster to facilitate the supply of biotechnological and medical products and services, as well as the transfer of knowledge from the Republic of Korea to the region in order to face the current pandemic and any future health crisis.

With the Technical Cooperation that will be executed by CABEI, the investment and establishment of South Korean companies will be encouraged in the Economic and Industrial Zones in the Central American region, the region's access to health services and medical equipment will be increased, and the biotechnology sector and qualified workforce will be enhanced. It is also expected to receive a significant contribution for the preparation of the region regarding an effective implementation of the best practices developed by the Republic of Korea, which have been key to the successful management of the pandemic in such country.

The Executive President of CABEI, Dr. Dante Mossi, highlighted the importance of the participation of the private sector in collaboration with the public sector for the development and the implementation of Public and Private partnerships (PPPs) in non-traditional sectors, such as the Biotechnology sector. Dr. Mossi has confidence that this initiative will serve as a catalyst for the strengthening of the member countries in matters of public health, pharmaceuticals and biotechnology, as well as positioning the region as a biotechnology hub in Latin America.

Likewise, Dante Mossi mentioned that “the Bank's participation as the implementing entity of this important non-reimbursable Technical Cooperation granted within the framework of the Korea-CABEI Partnership Single Donor Trust Fund leads one step further towards the consolidation of CABEI's relations between the countries of the Central American region and the Republic of Korea, which will certainly continue to provide benefits to our countries, that in these times of emergency are so much needed. "

The execution of the technical cooperation will start during the first quarter of 2021.