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S. Korea to step up cooperation with C. American nations

According to Yonhap News,

SEJONG, Sept. 3 (Yonhap) -- South Korea will step up economic cooperation with Central American nations, Finance Minister Hong Nam-ki said Thursday.

Hong made the remarks as he delivered a message at an online meeting of the Central American Bank for Economic Integration (CABEI), the region's multilateral lender, the ministry said in a statement.

South Korea and the CABEI should boost cooperation to jointly cope with economic and industrial changes in the post-pandemic era, Hong said.

South Korea and Central American nations will strengthen ties throughout various aid programs, Hong said.

In January, South Korea became the 15th member state of the multilateral lender.

South Korea is set to provide US$112.5 million to the Central American financial institution in the coming years for a 7.6 percent stake, the second-largest held by a non-regional member after the 11.62 percent controlled by Taiwan, according to the ministry.

Founded in 1960, CABEI is aimed at extending loans to private and government-led development projects in the Central America region.

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Source: Yonhap News (Sep 3 2020)

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