CABEI will allocate $1 billion for projects in El Salvador in 2023

An ally of El Salvador since 1960, the Central American Bank for Economic Integration (CABEI) has been characterized by supporting the most important development projects in the country, and by 2023 it will continue with this leverage with an estimated amount of $1,000 million, reported the president of the multilateral , Dante Mosi.

“I hope that the bank is capitalized and that support for El Salvador is at least $1,000 million, at least in 2023, and this country has really shown all the signs of support for this process of strengthening CABEI,” the executive told Diario The Savior.

He announced that the cooperation agenda between the country and CABEI will be framed next year in development projects, logistics infrastructure, and others with a social and economic impact.

«I think that the most emblematic will be the Tren del Pacfico, where there has already been a tender, so, finally, it will be possible to travel from Acajutla to San Salvador. I think it will transform a lot and that it will make the private sector more efficient,” said Mossi, adding that the installation of the Los Chorros viaduct is another of the weighty bets for 2022.

“My ambition for El Salvador is that we can do more electric mobility projects, more water and sanitation projects to improve the Surf City area, and I think we still have room to formulate more projects,” he added.

In this sense, the president of the regional bank highlighted that the relationship with the government of El Salvador is solid, transparent, and open, which has allowed the understanding and successful advancement of various strategies.

«The relationship with the government of El Salvador has been magnificent, there is no better way to describe it. Today, El Salvador is one of the most active countries, there is a first-class dialogue, and when there is a problem, we work on it,” he said.

Based on this solid relationship, Mossi pointed out that throughout 2022 the regional entity has worked together with the country on various projects, including the completion of the works at the 3 de Febrero Hydroelectric Power Plant, logistics connectivity projects, drinking water, support on COVID-19, and the support of the Trust for the Economic Recovery of Salvadoran Companies (Firempresa).

In such a way that, with data as of November 2022, El Salvador is the country that has disbursed the most in all of Central America. In total, Mossi explained, the approvals granted amount to $500 million, while the disbursements mean another $509.68 million.