"We are your Bank and we are ready to support the region in the challenges we face," President Mossi at SICA Heads of State Meeting
Santiago, Dominican Republic, December 9th, 2022 - Inline with its strategic axis of promoting Central American integration, the Central American Bank for Economic Integration (CABEI) participated in the LVI Ordinary Meeting of Heads of State and Government of the Central American Integration System (SICA).
During his speech, CABEI Executive President, Dr. Dante Mossi highlighted the key role of the multilateral institution in mitigating the health crisis caused by COVID-19, "We were the first to support our member countries through an agile donation with the support of Korea, which provided 26,000 COVID test kits, as well as the creation of the Financial Sector Support Facility, which has protected more than 24,000 jobs in the region, most of them in the MSME segment.
"As the financial arm of the Central American region, we are pleased to be part of this meeting. CABEI is once again committed to being the main ally of our member countries and to working collaboratively with them to ensure the socioeconomic development of the region," said CABEI Executive President, Dr. Dante Mossi.
For more than 10 years, approximately 50% of the resources channeled to Central America have come from CABEI, approving approximately US$23,589.1 million and disbursing US$16,176.7 million. Of all these approvals, approximately 40% contribute to climate change adaptation and mitigation, demonstrating the multilateral's determination to back and support its member countries in achieving their commitments and committing to best environmental, social and sustainable practices.
"The above is evidenced by the strengthening of our authorized capital, which in 2019 increased from 5 to 7 billion and has enabled all of the above, because if the Bank is strong, you are strong, because CABEI is your Bank, the first to say present when it comes to financial solutions," concluded Mossi.
Finally, in environmental matters, the multilateral organization is moving forward with an intervention plan to promote the use of natural gas so that populations will gradually become less dependent on oil and, at the same time, it is promoting the implementation of electric mobility in Central America through alliances between its extra-regional member countries and experts in the field.
The meeting, which addressed issues of democratic security, the environment, food security and cooperation and institutional strengthening, was attended by the President of the Dominican Republic, Mr. Luis Abinader, as well as regional leaders and foreign ministers.