CABEI Executive President participates in high-level forum, "Joint Latin American and Caribbean Response in the face of COVID-19"


The conference, which was organized by the Government of Spain, provided a space for CABEI to present the efforts and support it provides to its member countries.

Tegucigalpa, June 24, 2020.- The Executive President of the Central American Bank for Economic Integration (CABEI), Dr. Dante Mossi, participated in the conference denominated, "Joint Latin American and Caribbean Response in the face of COVID-19," which gathered various Heads of State and Government of Ibero-American countries, including five CABEI member countries (Spain, Argentina, Colombia, Costa Rica and the Dominican Republic).

By means of a press release, the Presidency of the Government of Spain explained that, "The initiative's goal is to form a coalition of Latin American countries and international financial institutions that promote the articulation of support instruments, involving both financing and technical assistance, to deal with the socio-economic consequences of the crisis and return to a path of inclusive and sustainable growth.”

The event's opening words were given by the President of the Government of Spain, Pedro Sánchez, who was accompanied by the Vice President and Minister of Economy. Other event attendees included CABEI Governor, Nadia Calviño, and Foreign Affairs Minister, Arancha González Laya.

During the videoconference, Dr. Mossi reiterated the words of the President of Costa Rica who stated that, “It is important to carry out different and extraordinary actions that enable a short and medium term response for the countries regarding health care matters, while also addressing economic aspects. The Bank will continue responding in a streamlined and timely manner to the needs of the countries of the region, providing financial resources to be able to sustain macroeconomic stability and liquidity requirements, while fostering the support required in technical and financial assistance in order to promote sector programs and projects that generate sustainability and employment, which is the primary source of income for broad economic and social sectors.”

Dr. Mossi added that, "The Bank will continue making joint efforts with multilateral and bilateral financial and non-financial organizations to take advantage of this opportunity and contribute to fulfilling the Sustainable Development Goals (SDGs)."  

After thanking the solidarity of Spain as a strategic partner and member of CABEI, Dr. Mossi highlighted the support of this country in the Institution's recent capitalization process stating that, “The Bank has already started a new authorized capital increase from $5.00 billion to $7.00 billion, which will enable new resources for borrowing countries with soft financing conditions. We appreciate the support of Spanish agencies, such as ICO and AECID/FONPRODE for their continued collaboration, despite difficult conditions, both in Spain and in Latin America."

Dr. Mossi explained that CABEI is working on the creation of a fund denominated: The CABEI Social Support Foundation (FAS-CABEI), which seeks to promote social projects in favor of the member countries through the attraction of non-reimbursable resources or donations from regions, countries and entities using the relationships that CABEI fosters with strategic partners and allies in Europe and Asia. FAS will become a useful tool for generating positive impacts on the quality of life of the population of the Bank's member countries, helping them to face the effects generated by the COVID-19 pandemic.

Dr. Mossi ended his participation by thanking the cooperation received from other financial entities, such as the IMF, IDB, WB, FONPLATA and CAF, to meet the incremental requirements of the Bank's member countries in this time of great need.

Attendees at the event included CABEI Executive President, Dr. Mossi; IMF Managing Director, Kristalina Georgieva; Vice President of the World Bank for Latin America and the Caribbean, Carlos Felipe Jaramillo; IDB (Inter-American Development Bank) President, Luis Alberto Moreno;  Development Bank of Latin America (CAF) Executive President, Luis Carranza; Executive Secretary of the United Nations Economic Commission for Latin America (ECLAC), Alicia Bárcena; and Ibero-American Secretary General, Rebeca Grynspan.

Likewise, the conference included participations from the Presidents of the Republics of Argentina, Chile, Colombia, Costa Rica, Ecuador, Peru, Paraguay, the Dominican Republic and Uruguay, as well as the Prime Minister of Barbados and current President of CARICOM.