The Central American Bank for Economic Integration (CABEI) approved financing for US$800 million to alleviate the impact on fuel prices in countries of the region, stimulated in large part by the war between Russia and Ukraine, the body announced on Friday.
CABEI detailed in a statement that each founding and non-founding country will be able to receive credits of up to US$200 million and that it would expand the amounts allocated based on external sources of resources.
“This operation will have a direct impact on the economy of millions of consumers, since the subsidies mitigate the impact on the increase in the cost of fuel in consumer products, basic services, transportation and supplies, among others,” said the president. from CABEI, Dante Mossi.
Among the beneficiary countries are Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua as founders of CABEI, as well as Belize, Panama and the Dominican Republic as non-founders. The entity did not specify the financing conditions.
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— BCE (@BCIE_Org) June 3, 2022