El Salvador: $200 Million to Strengthen the Fiscal Sector

Government and the Inter-American Development Bank (IDB) signed a $200 million loan aimed at strengthening the fiscal sector.

Wednesday, September 29, 2010

The loan is part of a package of six transactions approved by IDB this year totaling nearly $450 million.

The fiscal strengthening program, approved by BID´s Board of Executive Directors last February, aims to improve treasury accounts and protect funding for social programs which benefit low-income groups.

The program will be implemented by the Ministry of Finance over a period of two years. It includes macroeconomic stability components, tax reform, greater efficiency in tax and customs administration, rationalization of subsidies as well as transparency in public finances.

The 20-year loan has been structured in two tranches, with a grace period of 5 years, based on Libor.

More on this topic

El Salvador: $200 million to Improve Fiscal Management

March 2012

An IDB loan will help the Salvadoran government to strengthen key institutions and tax management.

A press release from the Inter-American Development Bank (IDB) reads:

A $200 million loan will help the Salvadoran government to strengthen key institutions and tax management.

Panama: $ 200 Million to Improve Fiscal Management

December 2010

The IDB loan will support the implementation and framework of a modern fiscal policy based on international practices.

The IDB loan will support the implementation and framework of a modern fiscal policy based on international practices.

Panama will reform its tax laws and improve public management expenditures with a loan of U.S. $ 200 million approved by the Inter-American Development Bank (IDB).

El Salvador: $500 Million more from IDB

June 2009

The funds will be available beginning in 2010 and they will be used to fund some projects of Mauricio Funes’ new government.

The president of the Inter-American Development Bank (IDB), Luis Alberto Moreno, announced the new line of credit granted to El Salvador during a visit to the country. This loan is in addition to the $450 million loan granted in 2009 by the same body.

IDB approves $90 million loan for Nicaragua

August 2008

The funds are to be used for the rural production reactivation program and for poverty alleviation programs for Nicaragua's poorest.

The president of the Inter-American Development Bank (IDB), Luis Alberto Moreno, expressed Sunday in Nicaragua their willingness to continue supporting the government of Daniel Ortega in energy development, rural production and food crisis relief projects.

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