According to the Treasury Minister, the investment will be used to develop a technological infrastructure capable of settling stock exchange operations in each of the countries of origin.

He said that the debt market in Central America is a US$120 billion market and provides the region with an additional financing window that can lower the payment sources of each country in the region.

The objective of the project is to have all the technological infrastructure needed to integrate all the region's stock exchanges and for one of these countries to act as a settlement center for financial operations, and in this case the headquarters will be in El Salvador.

The decision was made during the first extraordinary meeting of 2022 of the Consejo de Ministros de Hacienda o Finanzas de Centroamérica, Panamá y República Dominicana (COSEFIN). This macro project will allow the Central American economy to become more dynamic; it will also provide financing options.

He said that the benefit for El Salvador is that it becomes the financial center, the banking system becomes more solid and the economy will remain dollarized. He saidthat with this project the country will have greater added value in the service chain, job creation, a higher level of investment and economic operations of greater volume.

In addition, the project is designed to facilitate the clearing, settlement and custody processes of cross-border operations with public debt securities, which are carried out under the negotiation modalities used in the different countries of the region.

The funds may be invested in infrastructure works, social plans, health, security and education sectors.

CABEI President, Dante Mossi, explained that, with this project, a computerized structure will be registered in El Salvador for the registration of all the debt issues of the countries that wish to do so.