By Walter Grand in Economy —

Central Bank for Economic Integration approves $800 million subsidy - Reuters

Central Bank for Economic Integration approves $800 million subsidy - Reuters
Photo by Henry Desro / Unsplash

The Central American Bank for Economic Integration has agreed on an $800 million support measure to protect local countries from spikes in global fuel prices.

Central American countries have seen prices of fertilizer and staples such as corn and beans jump as a result of higher fuel prices.

"This subsidy will have a direct economic impact on millions of consumers," said CABEI President Dante Mossi.