CABEI increases its availability of resources for the purchase of COVID-19 vaccines to US$800.0 million
The funds will be available for the purchase of vaccines, as well as the financing of the logistics of distribution, socialization and application of these vaccines to the population.
Tegucigalpa February 08, 2021.- The Central American Bank for Economic Integration (CABEI) approved an increase of up to US$400.0 million for the acquisition and application of vaccines against COVID-19 to eight countries of the Central American Integration System (SICA) through the Credit Facility of the Emergency COVID-19 Support and Preparedness and Economic Reactivation Program.
With this new approval, CABEI increases the resources available to the countries of the Central American region to US$800.0 million to finance the purchase of vaccines, as well as the financing of the logistics for their distribution and application to the population. This increase is in response to the interest shown by all the countries in the Central American region in accessing this Credit Facility and in line with their national vaccination plans.
With this increase, the Facility will provide each country with an allocation of US$100.0 million.
Dr. Mossi pointed out that "the eight countries in the Central American region will begin to receive the first doses of vaccine (3,337,080) for COVID-19 from the COVAX Facility in the coming weeks, which is very good news for rapid access to this key input to mitigate the effects of the pandemic and also to begin to put economic recovery on track. There is no doubt that greater efforts will be needed to guarantee broad immunization coverage of the population in the short term and that is why CABEI has decided to support our countries by providing this increase in financing funds.
In November 2020, CABEI became the first Multilateral Development Bank to issue a COVID-19 Vaccine Bond and then a second bond in December 2020, both in the Asian market, to raise a total amount of US$100 million from the capital markets.
Dr. Mossi also stated that "the actions that have been coordinated with governments to support them in mitigating the effects of the pandemic and in economic recovery programs have been successful. With the increase of US$400 million, the Emergency COVID-19 Support and Preparedness and Economic Recovery Program now has an allocation of US$3,060.1 million".