Buenos Aires, October 25th, 2022.- Materializing its expansion strategy through the establishment of representative offices in its member countries, the Central American Bank for Economic Integration (CABEI) has arrived in Buenos Aires, Argentina, with the aim of strengthening cooperation ties between Central America and the Common Market of the South (MERCOSUR) of the American continent.

The inauguration of the office, which will be located in the IRSA Tower in the Retiro neighborhood, will take place on October 31, and the activities will include the monthly Board of Directors meeting, where representatives of the Bank's member countries will analyze and discuss initiatives to promote their sustainable development.

"We are pleased to materialize our expansion strategy in CABEI member countries. Buenos Aires is the headquarters of our third office in one of our extra-regional partners, after Taipei and Seoul, which excites us since, through our physical presence in the countries, we are confident that we will be able to develop more and better initiatives and projects for the benefit of the inhabitants," highlighted CABEI Executive President, Dr. Dante Mossi.

The Republic of Argentina has been a CABEI extra-regional member since 1995 and currently has nine operations approved to support sectors such as science and technology, agriculture, gender equity, digital transformation of SMEs, among others, totaling US$394.0 million with expected impacts throughout the country.

The country has subscribed capital of US$305.8 million and accumulated capital contributions of US$41.3 million, representing a 4.3% shareholding in CABEI.