TAIPEI, Taiwan — The minister of finance, Dr Jain-Rong Su, and the executive President of the Central American Bank for Economic Integration (CABEI), Dr Dante Mossi, signed an agreement for establishing a country office in Taiwan at the virtual meeting on April 23, 2021. Having prepared for two months, CABEI Country Office in Taiwan started to operate on the 83rd floor of Taipei 101 on July 6, 2021, the first branch office in Asia.
The ministry of finance stated that CABEI was established in 1960 and is headquartered in Tegucigalpa, Honduras. It is focused on promoting integration and economic and social development in the region. CABEI currently consists of 15 members; Taiwan, which has been a member of the bank since 1992, was one of the first extra-regional members to join CABEI and has the highest contribution of subscribed capital among the extra-regional member countries.
A board of governors oversees CABEI. Taiwan’s governor is the minister of finance, while its alternate governor is the Deputy Governor of the Central Bank of the R.O.C. (Taiwan).
The ministry of finance further mentioned that the office in Taiwan would not only help boost the financial market in Taiwan, but also help strengthen the cooperative relationship between CABEI and Taiwan.
Meanwhile, with the office, CABEI could increase the bond issuance in Asian capital markets, promote the participation of the private sector of Asian countries, get opportunities to cooperate with Asian Multilateral Development Banks, and introduce Asian countries to join the bank as new members. This new office will become an important milestone for CABEI in Asia.
Source: Ministry of Finance
