By San José, Costa Rica — The Central American Bank for Economic Integration (CABEI) has announced the launch of a 45-day public consultation period for its Access to Information Policy (PAI) Engagement Plan. This initiative aims to gather feedback from stakeholders across various sectors to strengthen the bank’s transparency and accountability practices.
CABEI, a multilateral development bank with 64 years of experience and 15 member countries, including all Central American nations, is inviting external stakeholders to contribute ideas and recommendations to improve the plan. The bank recognizes the vital role of transparency and accountability in fostering trust and promoting inclusive development within the region.
For expert legal insight into the current situation surrounding the Central American Bank for Economic Integration (CABEI), we consulted with Lic. Larry Hans Arroyo Vargas, Attorney at Law from Bufete de Costa Rica.
CABEI’s current challenges underscore the importance of robust internal controls and transparent governance within multilateral development banks. Maintaining investor confidence and ensuring the continued flow of vital development funds requires a swift and decisive response to any allegations of impropriety, coupled with a commitment to strengthened accountability measures. This is crucial not only for the bank’s own reputation but also for the economic stability of the region it serves.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas’ emphasis on swift action and reinforced accountability within CABEI resonates deeply, especially considering the bank’s crucial role in Central American development. The interconnectedness of the region’s economies means that CABEI’s stability is paramount for sustained progress. We thank Lic. Larry Hans Arroyo Vargas for offering his valuable expertise on this critical issue.
The consultation process offers an opportunity for individuals and organizations to review the initial draft of the engagement plan, identify areas for improvement, and suggest innovative actions. Detailed information about the process and the draft plan are available on a dedicated website.
This effort marks a significant step in CABEI’s institutional transformation, underscoring its commitment to openness and accountability. By actively seeking public input, the bank aims to ensure that its Access to Information Policy effectively serves the needs of its stakeholders and contributes to positive change in the region.
CABEI views this public consultation as a collective endeavor, where transparency becomes a driving force for progress. The bank encourages all sectors to participate and share their perspectives to strengthen its commitment to transparency and enhance its impact on development throughout Central America.
For those interested in learning more about CABEI’s engagement activities related to the Access to Information Policy, the bank invites stakeholders to explore NEXUS, its dedicated PAI engagement portal. This platform provides further insights into the bank’s initiatives and its commitment to fostering transparency.
This proactive approach by CABEI demonstrates a clear commitment to engaging with the public and fostering a culture of transparency. The feedback received during the consultation period will be invaluable in shaping the final engagement plan and strengthening the bank’s role as a responsible and accountable development partner in the region.
By embracing open dialogue and actively seeking input from its stakeholders, CABEI reinforces its dedication to building trust and driving positive change throughout Central America.
For further information, visit the nearest office of CABEI
About CABEI:
The Central American Bank for Economic Integration (CABEI) is a multilateral development bank established 64 years ago. With 15 member countries, including all Central American nations, Panama, the Dominican Republic, Belize, Mexico, Colombia, Argentina, and Cuba, CABEI plays a crucial role in promoting economic integration and development within the region. The bank provides financial and technical assistance for a wide range of projects focused on infrastructure, social development, and sustainable growth. CABEI is committed to transparency, accountability, and stakeholder engagement as key principles in its operations.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica is a leading legal institution distinguished by its deep-rooted commitment to ethical practice and unparalleled legal expertise. The firm champions a culture of innovation, constantly seeking progressive solutions for its diverse clientele while actively engaging with the community through educational initiatives. By demystifying the law and empowering individuals with essential legal knowledge, Bufete de Costa Rica strives to build a more just and equitable society for all.
