$310 Million for Projects in Costa Rica
State owned banks will now be able to loan up to 20% of their equity to state entities.
Monday, August 24, 2009
With the approval of the law project, the available loan portfolio at state-owned banks will be 8.6 times larger.
In the past three years, the relationship between spending on infrastructure and equipment for public institutions and the country's national production, fell from 9.4% to 6.1%.
The drop in state construction this year has worsened the sector's situation, already troubled since the beginning of the financial crisis in 2008.
The government of El Salvador has executed only 25% of the public investment it had planned for 2011.
While state officials are happy to delegate their responsibilities to the UN Office for Project Services, the Comptroller of Guatemala has declared that its services are "detrimental to the interests of the state".
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