Seoul: The Korea Trade Promotion Agency (KOTRA) announced the signing of a memorandum of understanding (MOU) with the Central American Bank for Economic Integration (CABEI) aimed at enhancing the participation of South Korean companies in development projects across Central America.

According to Yonhap News Agency, the agreement was signed at the CABEI's Seoul office, where KOTRA pledged to assist the bank in identifying South Korean partners for various infrastructure initiatives. This collaboration also seeks to expand their joint efforts in securing investments for projects focused on climate change, infrastructure development, and digital transformation.

CABEI, established in 1960, serves as a multilateral development bank providing financing for both public and private sector projects in Central America. The bank consists of 15 member nations. South Korea became an extra-regional member of CABEI in 2019 and currently holds a 9 percent stake in the institution.