$17 Million for Economic Development in El Salvador
Businesses that operate in the northern zone of the country can access lines of credit in order to invest in or expand their operations.
Friday, December 12, 2008
Daniel Choto writes in an article on Elsalvador.com: "Starting now, businesses interested in investing in or expanding their projects in the northern zone of the country have a new ally, the Northern Development Trust Fund (Fidenorte, acronym in Spanish) due to the $17 million allocated yesterday by Fomilenio and Banco Multisectorial de Inversiones (BMI).
Although the number of tourists coming to Panama City continues to grow, there is still an oversupply of rooms, and in the last 3 years average occupancy has fallen by 10%.
In September and October hoteliers reduce or close their operations due to the low levels of occupancy recorded at this time of year.
In the last year, average hotel occupancy dropped by 51%.
The tourism sector expects the start of high season to represent an increase in hotel occupancy.
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