On its 60th anniversary, CABEI organizes its Assembly of Governors virtually
The Assembly will be held on September 3rd and will allow addressing strategic issues with the representatives of its partner countries, taking into account the special circumstances left by the COVID-19 crisis scenario.
Tegucigalpa, August 10, 2020.- On September 3rd, the Central American Bank for Economic Integration (CABEI) will hold its 60th Ordinary Assembly of Governors for the first time virtually, due to the current situation in the region because of the COVID-19 pandemic.
For CABEI’s Executive President, Dr. Dante Mossi, the analysis that will be carried out in the Assembly of Governors on the challenges faced by the economies of the region is very important, taking into account the special circumstances left by the coronavirus crisis scenario.
Likewise, he reiterated that the Bank, from the beginning when the regional authorities decreed a state of health emergency due to the pandemic, launched the Emergency Support and Preparedness Program for COVID-19 and its economic reactivation that exceeds US$2 billion to help partner countries cope with the crisis and mitigate its impact.
The virtual economic meeting will be attended by the delegates of the 15 partner countries that make up the highest governing body of CABEI, Ministers of Treasury, Economy, Finance and/or Presidents of Central Banks to discuss possible investments that promote new projects within the framework of its current 2020-2024 Institutional Strategy, and its commitment to continue supporting the Central American countries in their efforts to achieve economic development and better well-being opportunities.
The Bank of the region
CABEI is currently the main provider of financial resources for the development of the Central American region. The multilateral, classified as AA by Standard and Poor’s, has successfully concluded its capital increase from US$5,000 to US$7,000 million thanks to the support of the founding countries, in addition to Panama, the Dominican Republic, Argentina, the Kingdom of Spain; the Republic of China (Taiwan), South Korea and Colombia. This allows CABEI to be the most relevant bank in financing development in the Central American region.
One of the most interesting initiatives recently designed by CABEI is the Development Policies Operation Program (DPO) as an instrument for the generation of policies conducive to institutional strengthening, the development of countries and the reduction of poverty.