Central American Bank for Economic Integration Establishes Regional Offices in Korea, Taiwan, and Spain

Kim Yong-beom, the 1st Vice Minister of the Ministry of Economy and Finance, is greeting attendees at the opening ceremony of the 'Central American Bank for Economic Integration (CABEI)-Korea Week' held on the 21st at the Western Chosun Hotel in Jung-gu, Seoul. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Jang Sehee] The Central American Bank for Economic Integration (CABEI) announced on the 3rd that it will establish regional offices in Korea, Taiwan, and Spain.

The Central American Bank for Economic Integration (CABEI) is a multilateral development bank established in 1960 to support investments contributing to balanced development and economic integration in Central America.

It currently has 15 member countries. It is an international financial institution with high expertise in infrastructure and energy investments in the Central American region. Korea completed its new membership in December last year.

The CABEI regional offices are currently located in six Central American countries: Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, and Panama. Through this decision, the bank plans to establish regional offices for the first time in offshore member countries such as Korea.

The establishment of these new regional offices was decided as part of efforts to enhance cooperation with Asia and Europe, promote investment, and attract new member countries.

The Ministry of Economy and Finance stated, "The attraction of these regional offices is a result of cooperation formed at the first meeting attended by Korea as a board member," adding, "The Korean government will continue to cooperate with CABEI on specific plans for the establishment and operation of the regional offices."

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