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The Ministry of Finance (MOF) continues to deepen the partnership between Taiwan and CABEI in order to improve the social and economic development of Central American countries and to fulfill its international social responsibility

The MOF stated that, aiming at deepening its partnership with Taiwan, the Central American Bank for Economic Integration (CABEI) established its first Asia-based branch office in the Republic of China (Taiwan) in July 2021. The first Taiwanese Country Representative Officer Rosemary Yung-Hsin Wang took her position in April 2022, hoping to strengthen the relationship between CABEI and Taiwan, to promote a cooperative relationship between Taiwan and the public and private sectors in Central America, to further boost the financial market in Taiwan, and to increase interactions between Taiwan’s industries and international Multilateral Development Banks.

 

The MOF explained that the objective of CABEI is to promote the economic integration and social development of the Central American region. Taiwan has participated in CABEI as a non-regional member since the year 1992 and currently owns 11.09% of subscribed capital of CABEI, the highest among member countries of CABEI. The Board of Governors, composed of 15 Governors, is the top decision-making authority of CABEI. Each member country has a Titular Governor and an Alternate Governor in the Board of Governors. The Governor representing Taiwan on the Board is Dr. Jain-Rong Su, the Minister of Finance of Taiwan; and the Alternate Governor is Dr. Nan-Kuang Chen, the Deputy Governor of the Central Bank of Taiwan. The Board of Directors, comprised of 12 Directors, is the authority responsible for the direction of the Bank and supervises administrative operations. The Director representing Taiwan is currently stationed in CABEI’s headquarters in Tegucigalpa, Honduras.

 

The MOF pointed out that as a member of CABEI, Taiwan stands with the Bank to promote Central American countries’ infrastructure, finance MSMEs, promote digital transformation, address climate change, develop sustainable agriculture, etc. Taiwan also joins CABEI projects to assist Central American countries in preventing COVID-19; reviving economies in the post-pandemic era; developing social economy to promote sustainable economic, social, and inclusive development; and fulfill Taiwan’s international social responsibility.

 

 

Contact person: Ms. Vera Wei-Nung Lee, Section Chief
Contact Number: +886-2-23228000 # 8582

 

Issued:Dept. of International Fiscal Affairs Release date:2022-05-19 Last updated:2022-05-19 Click times:147