Meeting with The Executive President of The CABEI
1ST VM Bang Has A Meeting with The Executive President of The CABEI
1st Vice Minister Bang Ki-sun met with Dr. Dante Mossi, Executive President of the Central American Bank for Economic Integration (CABEI), on July 11 in Seoul during CABEI Korea Week[1]. At the meeting, 1st VM Bang and Dr. Dante Mossi discussed ways to promote cooperation between Korea and the CABEI and the role of its representative office opened in Korea.
The Ministry of Economy and Finance and the CABEI also signed an agreement[2] for EDCF-CABEI Co-financing Facility for Central America. The agreement will increase the ceiling of the facility by 200 million dollars to 340 million dollars and extend the period by three years until January 2025.
1st VM Bang said that he hopes the co-financing facility will serve to step up the development of infrastructure projects related to transportation, water resources, and ICT in Central American region. In return, Dr. Dante Mossi stated that the increase of the facility will contribute to the economic and social development of CABEI member countries.
“The CABEI Korea office is expected to serve as a bridge for economic cooperation between Korea and Central America by securing development resources and sharing Korea’s development experiences and technologies,” said 1st VM Bang in his congratulatory remarks at the completion ceremony for the CABEI Korea office. He also asked for the CABEI Korea office to contribute to further strengthening friendship and business cooperation between Korea and Central American region.
[1] The event is scheduled to be held from July 5 to 11 in Busan, Ulsan and Seoul. It is hosted by the CABEI, and supported by the Bid Committee for World EXPO 2030 Busan, Korean Council on Latin America & the Caribbean, Korea Chamber of Commerce and Industry, Busan Port Authority, Korea Gas Corporation (KOGAS), Korea Railroad (Korail), Korea National Railway, Korea Electric Power Corporation (KEPCO), Korea’s five district electric power corporations and the Export-Import Bank of Korea (Korea Eximbank).
[2] In the facility agreement, Korea and Central America jointly discover promising projects related to climate change, ICT, etc. and share project costs, and then CABEI implements project management by initiating and bidding projects.
Please refer to the attached pdf.
