Written by 01:46 Business

Taiwan To Increase Central American Development in Trust Fund Deal With CABEI

The Ministry of Foreign Affairs (MOFA) and the Central American Bank for Economic Integration (CABEI) on Thursday (Nov. 18) jointly signed the Taiwan-CABEI Partnership Fund, which allots US$5 million (NT$111 million) in funds to the region from 2021-2025.

The new trust fund will provide US$1 million annually over a five-year period for technical assistance, training, and advisory services to the financial institution, a CABEI press release said.

The technical assistance will be provided through feasibility studies, reports, conferences, workshops, and scientific development and analytical work in member countries. Sectors to see the most aid include green energy, public health, sustainable agriculture, information and communication technologies (ICT), and trade, per CABEI.

The agreement was inked by Foreign Minister Joseph Wu (吳釗燮) and CABEI President Dante Mossi during a virtual signing ceremony. Minister of Finance Jain-Rong Su (蘇建榮), Deputy Governor of the Central Bank of Taiwan Nan-Kuang Chen (陳南光), and ministers and ambassadors from Taiwan’s Central American and Caribbean allies were all present, according to a MOFA press release.

Wu said that Taiwan and CABEI will have been partners for 30 years next year. All this time, Taiwan has spared no effort to work with the financial institution to promote regional development and economic integration in Central America.

Facing many post-pandemic challenges, Taiwan hopes to share its professional knowledge and experience to “substantially assist” the economic and social development of Central America through technical cooperation and capacity-building programs, the foreign minister said.

Mossi expressed gratitude to Taiwan for its contributions and support to CABEI over the years, especially as Central American countries are facing economic, social, and health crises. The fund agreement is another milestone for bilateral cooperation and will lead to more development in the Americas, he said.

CABEI Governor of Honduras and Minister of Finance Luis Mata said that Taiwan has provided various technical assistance and financial cooperation to develop Honduras economically and socially, demonstrating the “firm friendship” between Taiwan and Honduras.

Su said Taiwan will continue to support the financial institution to advance regional economic and social development and improve the welfare of local citizens.

Chen said that the development needs of Central America are changing with the times and expressed optimism that CABEI will properly use this fund to continue promoting the integration and sustainable development of the region.

CABEI is based in Tegucigalpa, Honduras, and currently has 15 member states. Taiwan joined the institution in 1992. (https://www.taiwannews.com.tw/en/news/4349309)

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Last modified: 4 de December de 2021
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