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Route of Action for Gulf of Fonseca Plan Established

      News, El Salvador, Honduras, Nicaragua   

The meeting is an advance of the Master Plan for Investment Projects and Economic Development in the Gulf of Fonseca region.

CABEI's participation in the execution of the Plan in in line with its integrationist vision and serves as an instrument for planning, negotiation and coordination among the countries

Tegucigalpa, May 14, 2019.- Derived from the Master Plan for Investment Projects and Economic Development in the Gulf of Fonseca, representatives of the three countries of the region held a technical meeting at Central American Bank for Economic Integration (CABEI) with the objective of establishing a roadmap that identifies initial actions for the development of the Central American Pacific zone.

During the meeting, a series of measures were agreed upon, including the socialization of the initiative in each of the countries with related state institutions, such as ministries of commerce, tourism and migration, the private sector and local governments. Likewise, it was agreed to establish the bases to implement a development fund and subsequent coordination among donors to strategically promote the actions of the Plan.

CABEI's support in the design of the Plan, which already includes strategic guidelines and investment and economic development projects, identified the establishment of a trinational ferry and development of a logistics corridor as initial projects.

CABEI Country Manager for Honduras, Mr. Manuel Torres, stated that, "CABEI's participation and support in the execution of the Plan responds to its integrationist vision and will serve as an instrument for short, medium and long term planning, negotiation and coordination among the countries. With this initiative, the Bank reiterates its support to the development of the region's countries. In addition, its efficiency and agility to follow up on these initiatives, such as the present follow up meeting, is a clear example of its commitment to development."

The meeting was attended by Honduran presidential delegate, Ebal Díaz; Salvadoran Minister of Foreign Affairs, Carlos Alfredo Castaneda Magaña; and Nicaraguan Minister for Policy and International Affairs, Sidhartha Francisco Marín Arauz.

The initiative denominated "Master Plan for Investment Projects and Economic Development in the Gulf of Fonseca region" is part of the vision and agreements signed by the Presidents of El Salvador, Honduras and Nicaragua to seek joint solutions in a zone with the potential to be the development pole of the Central American Pacific coast.