South Korea first country to establish a Single Donor Trust Fund at CABEI
South Korea made the first disbursement of $10 million to the Central American Bank for Economic Integration (CABEI) to launch the Single Donor Trust Fund for the first time in CABEI's history.
The fund will identify and prepare projects that incorporate content, technologies, and best international practices, especially from the Republic of Korea, in relevant areas such as health, energy, social, and productive infrastructure, mobility for cargo, and transport, information and communication technologies, and climate change adaptation and mitigation, among others.
The operation is carried out within the framework of a Grant Agreement that CABEI signed with the Ministry of Economy and Finance for the granting of non-reimbursable financial cooperation in the amount of $50 million over five years.
South Korea officially joined CABEI as an extra-regional partner on 31 December, 2019 with a subscribed capital of $450 million with an equity participation of 7.2% and made its first capital payment on 10 January, 2020 for $28.1 million.
