Germany allocates more than 100 million euros for regional projects implemented by SICA and CABEI

San Salvador, June 26, 2019. Germany reaffirms its support for the Central American Integration System (SICA) and the Central American Bank for Economic Integration (CABEI) by allocating new funds for regional cooperation of up to 101.3 million euros for years 2019 and 2020.

Of the total amount, the allocation for the SICA and regional instances corresponds to 70.3 million euros and 31.0 million euros, particularly for CABEI, which will be distributed among technical and financial cooperation. These new allocations were the result of official negotiations among the Government of Germany, the SICA General Secretariat and CABEI, which took place from June 24 to 26, 2019.

As part of the Negotiations, it was agreed to implement actions in areas related to environmental and natural resource protection, promotion of renewable energies and energy efficiency, sustainable economic development, youth violence prevention and promotion of good financial governance in SICA, as well as promotion of employment, formation and training for young people and the reintegration of children and young people at risk of irregular migration.

Attendees in the Negotiations included SICA Secretary General, Vinicio Cerezo; Head of the Dept. of Regional Development Policy for Central America and the Caribbean of the Federal Ministry for Economic Cooperation and Development (BMZ), Ulrike Metzger; CABEI Executive President, Dr. Dante Mossi; and delegates from the executing agencies of German Cooperation: GIZ and KfW.

Likewise, the SICA instances that are currently partners with German cooperation also participated, including the SICA General Secretariat, CABEI, Central American Commission for Environment and Development (CCAD), Central American Social Integration Secretariat (SISCA), Central American Agricultural Council (CAC) ), Council of Ministers of Treasury or Finance of Central America, Panama and the Dominican Republic (SE-COSEFIN) and the Trinational Commission of the Trifinio Plan.