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Bureaucracy threatens loans worth $179 million

In Guatemala, legislative barriers are delaying 3 loan approvals for infrastructure, competitiveness and development.

Wednesday, April 25, 2012

Three loans totaling $179 million are in danger of being lost due to delays in Congress in approving the loans, despite having them on the agenda.

One is for $29 million for a National Programme for Competitiveness (Pronacom), which is on the verge of collapse due to lack of funds, reports El Diario de Centro America.

Also pending is the approval of a $50 million loan from the IDB for water and sanitation projects. The third loan is for $100 million, granted by Japan to improve the country's roads.

The delay in approval is due to interpellations requested by some Members.

Source: Diario de Centro América

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Key entities

Inter-American Development Bank Guatemala Congress National Competitiveness Program (Guatemala) Emmanuel Seidner Ministry of Economy of Guatemala

Countries

Guatemala

Insight

Infrastructure Road Infrastructure public infrastructure international loan loans approval public works Public investment Infrastructure and Construction Infrastructure & Construction

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