The Central American Bank for Economic Integration (CABEI) is the “most relevant” source of resources for the region, said its executive president, Dante Mossi, on Friday, who highlighted Mexico’s support for Central American countries.
“In recent years we have become the most relevant source for Central America, where CABEI is providing more than half of the funds for development,” said Mossi at the inauguration of the LXII Assembly of Governors of the Bank in Mexico, so face-to-face and virtual.
He highlighted that the Assembly of Governors coincides with the commemoration of the 30th anniversary of Mexico’s accession to CABEI as an extra-regional partner.
“Mexico’s support has been truly constant through thick and thin,” Mossi stressed, noting that the institution serves “more than 57 million people with many challenges.”
CABEI “was born in Central America for Central America and is being supported by so many friendly countries and that is why we have decided to expand our presence in very distant countries.”
“We want to get closer, obviously this is a bank whose priority is this region and throughout more than 60 years of history we have responded to the calls of the heads of state and to the different crises facing the region,” he said.
Mossi said he felt “very proud” because CABEI “has responded to challenges” that have probably taken longer to resolve in the past.
CABEI addresses “very big” challenges
Among other achievements that Mossi highlighted about the institution he leads, is the creation of liquidity lines for the central banks of the region and emergency financing in the framework of the covid-19 pandemic, to avoid the loss of more than 24,000 jobs. .
In addition, the purchase of vaccines and emergency kits to detect covid-19 and “in critical years, when there was a lot of uncertainty, CABEI responded decisively thanks to the fact that its board of directors met very quickly.”
“We are a bank that grows financially to respond to the challenges of each country and we are aware that as (the institution) becomes stronger, the region does too,” he added.
Central America makes “sense as a single region, it is the fourth largest economy in Latin America and itself is the second largest export market, after the United States,” he specified.
CABEI’s executive president affirmed that the integrated Central American countries “are stronger and more attractive for national and international investors.”
The challenges that CABEI addresses “are very big, the bank belongs to the future and not for any future, we want it to be with dignity, with well-being, environmental and social sustainability, gender equity, transparency and an agenda of access to information” , he pointed.
“This is what makes this future more optimistic and we can attract more investment to the region,” Mossi said in the Board of Governors.
CABEI was founded in 1960 by Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua, to which Belize, Panama and the Dominican Republic have been added as non-founding partners.
In addition, they are extra-regional partners of the regional entity Argentina, Colombia, South Korea, Cuba, Spain, Mexico and Taiwan.