Tuesday, 19 December 2023 05:04

CABEI commemorates 63 years as an ally for sustainable development and Central American integration

Written by Editorial staff Dinero.com.sv
CABEI commemorates 63 years as an ally for sustainable development and Central American integration Courtesy

The Central American Bank for Economic Integration (CABEI) proudly commemorates its 63rd anniversary with an unwavering commitment to be the region's main financial ally, playing a crucial role in improving the quality of life of Central Americans, as well as increasing its internal controls and transparency in its daily operations.



In its 63-year history, the multilateral development institution has approved US$52.608 billion in financing, 82.2% of which has been directed to the public sector and 17.8% to the private sector. Hospitals, schools, electric power, water and sanitation projects, as well as roads and housing, among many other initiatives, are a reality not only in the countries that founded it -Guatemala, Honduras, El Salvador, Nicaragua and Costa Rica-, but also in the non-founding regional countries -Panama, Dominican Republic and Belize- and some extra-regional countries that have required its support -Argentina, Colombia, Mexico and Cuba.

CABEI's financial strength has allowed it to react effectively and timely to the needs of its member countries, which has been reinforced by the incorporation and unconditional support of extra-regional partners such as Mexico, Spain, China, Taiwan and Korea.

CABEI's new era

Marking a milestone in multilateral banking, CABEI recently elected its first Executive President, Gisela Sánchez, who pledged from her first day in office to set the Bank on a path of transformation based on three fundamental pillars: Ethics and Transparency, Technical Rigor and Accountability, and Proactivity, renewing the institution's commitment to continue being a key driver of the region's integral development, with a prosperous and sustainable vision, working for a more competitive, digital and integrated Central America.

"Strengthening governance, transparency and excellence will be central to our work in the coming years. As CABEI's new President, I am firmly committed to strengthening internal controls and fully assuming our fiduciary commitments to ensure compliance with the highest international standards in development banking. I am certain that working under the highest standards of ethics and transparency will allow us to gain trust and strengthen relations with each of our member countries, our strategic allies, regulatory entities and the public in general", said Sánchez upon being sworn in as CABEI Executive President for the 2023-2028 period.

She said that in this new phase, CABEI is committed to addressing climate change, prioritizing decarbonization, sustainable water management, integrated solid waste management and biodiversity protection, as well as gender equity and greater opportunities for women.


Translated by: A.M