Taiwan’s foreign ministry signed a cooperation agreement with the Central American Bank for Economic Integration (CABEI) on Thursday. The agreement establishes a trust fund in Central America, and is aimed at deepening cooperation between Taiwan and countries in the region.
The foreign ministry says that every year until 2025, it will boost the trust fund with US$1 million. The money will be distributed through CABEI to four countries in Central America as financial aid. Those countries are Belize, Guatemala, Honduras, and Nicaragua, all of which maintain official diplomatic relations with Taiwan.
The foreign ministry says the money will be used to promote balanced socio-economic development in the spirit of the slogan “Taiwan can help.” It will also make it easier for Taiwanese companies and consultants to participate in cooperation projects, which will increase the visibility of Taiwanese industry in the region. Enterprises will gain valuable information on Central American markets, business opportunities, and investment trends, which will help them establish a stronger presence in the region.