Seoul, July 12 th, 2022.- In order to develop collaborative activities to formulate and implement projects with an emphasis on climate action, the Central American Bank for Economic Integration (CABEI) and the Global Green Growth Institute (GGGI) signed a non-exclusive collaboration agreement to jointly identify and support initiatives of this type in Latin America and the Caribbean. 

Through the agreement, which was signed during the opening of CABEI's representative office in South Korea by CABEI Executive President Dr. Dante Mossi and GGGI Deputy General Director Dr. Kyung Nam Shin, both parties committed to promote the progress of the rural population to eradicate poverty and achieve food security, give due consideration to the environmental and social sustainability of economic development and the exchange of technical expertise in the development, analysis, structuring and monitoring of operations that contribute to climate change mitigation and adaptation.  

CABEI's Executive President, Dr. Dante Mossi, stated: "In the context of the need for climate action in Central America, CABEI is partnering with a world-class entity such as the GGGI to join efforts to help preserve our planet. Among the many strengths of this Institute is its alliance with the Green Climate Fund (GCF), which together we have no doubt will contribute to the fulfillment of CABEI's Climate Change Mandate by mobilizing resources for the region.” 

CABEI has already initiated concrete collaboration with GGGI, specifically in Nicaragua, where it is working on a proposal to be submitted to the Green Climate Fund (GCF) to finance Nicaragua's National Adaptation Plan (NAP). 

For CABEI, this alliance has potential for the future since concrete results can be achieved in the short and medium term in the mobilization of resources for the countries of the region for mitigation and adaptation to climate change. In addition, the alliance that GGGI currently has with the GCF offers the advantage that projects formulated by GGGI can have the prior technical endorsement of the GCF Secretariat.