PORT OF SPAIN, Trinidad (CMC) — The Association of Caribbean States (ACS) and the Central American Bank for Economic Integration (CABEI) have signed a memorandum of understanding in a bid to promote cooperation and the exchange of experiences that strengthen the development of focused projects on regional integration, climate change, environment and infrastructure.

A statement from the Port of Spain-based ACS said the agreement will allow the sharing of tools and experiences that will generate the creation of new cooperation, financing and development schemes for projects with potential impact on development and regional integration.

Among the areas of collaboration are the protection and preservation of the environment and natural resources, initiatives focused on promoting mobility and transportation, development of regional trade and external economic relations, inclusion of women, youth and vulnerable groups in accordance with the guidelines of the ACS and CABEI within the framework of the 2030 UN Sustainable Development Goals; and projects with a focus on climate change, the environment and comprehensive risk management.

CABEI executive president Dr Dante Mossi said that this agreement seeks to bring the Central American region much closer to the Caribbean, adding “there is enormous potential for the development of projects and initiatives such as multimodal maritime transport, which would provide a logistics solution for regional interconnection, and would promote investment opportunities and new jobs, promoting economic and social integration for both areas”.

ACS Secretary General Dr June Soomer said that in considering regional cooperation during the COVID-19 pandemic, solidarity and joint action are extremely important.

“At this time, when we need to rely on each other even more, we need to consolidate cooperation into practical and tangible undertakings. Our projects will develop not only infrastructure but the people of our region and ensure our sustainable development.”

The alliance between the two organisations will allow both institutions to serve partner countries in their struggle to improve the quality of life of their populations, face the adverse effects of climate change and respond to the effects of diseases such as the coronavirus (COVID-19), the ACS statement added.

CABEI has held Observer status at the ACS since 2007.