Justice Minister, Hernando Paris, said the funds will be used to strengthen the penitentiary system ($ 74.3 million) and for social programs aimed at young people living in high risk areas.
"The amount required to implement the projects is $ 187.8 million, so the country would provide $ 55.8 million," reported Nacion.com.
The Executive Board of the Inter-American Development Bank (IDB) must first approve the agreement then request endorsement by the Central Bank, the Finance Ministry and finally get Legislative approval.
Costa Rica's congress has approved a loan agreement with the IDB to finance a program entitled ‘Prevention of Violence and Promoting Social Inclusion’.
A press release from the Legislative Assembly of Costa Rica reads:
Tonight (January 23rd , 2012), the deputies approved in the second reading case number 18157 - Approval of a Loan Agreement signed between the Republic of Costa Rica and the Interamerican Development Bank (IDB) - to finance a program for Preventing Violence and Promoting Social Inclusion.
The loan proceeds signed with the CABEI will go towards the construction of police stations, purchase of safety equipment and vehicles and improving the capacity of criminal investigation.
From a statement issued by the Presidency of El Salvador:
San Salvador May 24, 2016.- The Central American Bank for Economic Integration (CABEI) and the Government of El Salvador today signed a loan amounting to US $100 million that will facilitate priority investments in infrastructure, basic and specialized police equipment which will increase the coverage of public safety services, reducing crime rates and violence by improving operational capacity and responsiveness.
In El Salvador, the state budget allocated to security is $500 million a year, while the total amount invested by private enterprises for self-protection is $600 million.
"The combined budgets (National Civil Police, the Attorney General's Office and the Armed Forces of El Salvador) total about $500 million and the private sector invests over $600 million annually on security issues," said Jorge Daboub, president of the National Association of Private Enterprise (ANEP).
On average, in Latin America every private security agent has 10 times more weapons than those in Europe.
According to The Small Arms Survey 2011: States of Security, created by The Graduate Institute of Genoa, the private security industry recorded a significant development, with about 20 million employees reported worldwide, a figure doubling that of the police.
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