Tegucigalpa, June 20, 2021.- The Central American Bank for Economic Integration (CABEI) has informed the Korean government and Seoul Metropolitan Government of its intention to establish the CABEI Korea Office on the 16th floor of the ONE IFC building in Yeouido, Seoul.

This decision is a follow-up measure to the Bank’s decision on March 31st, 2020 to establish a Korea Office. This came as a result of the Korea-CABEI partnership that Korea and CABEI have engaged in thus far despite the current challenging situation caused by COVID-19.

CABEI is an International Financial Institution that Korea joined in December 2019, and the most dominant Multilateral Development Bank for the Central American Integration System channeling about 50% of all the resources that multilaterals assign to these countries. CABEI has consolidated its financial position as the best credit in Latin American with an AA rating.

The CABEI Korea Office to be opened in Seoul will be in charge of supporting economic and investment cooperation between Korea and Central America by linking excellent technology and finance resources from Korean companies with Central American markets.

The Korean government will continue to cooperate with CABEI regarding the details of measures to establish and operate the CABEI Korea Office with the goal of setting up the office by the end of this year.