El Salvador: $500 Million more from IDB
The funds will be available beginning in 2010 and they will be used to fund some projects of Mauricio Funes’ new government.
Wednesday, June 3, 2009
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.
During a meeting of Governors, IDB President Luis Alberto Moreno announced that the entity will increase its support to countries in the region.
The Inter-American Development Bank (IDB) will loan $27 million to a program fostering rural business.
ABANSA believes that the cost of accessing the $500 million made available with IDB funds is too high.
The Inter-American Development Bank approved a loan today for the widening of the Panama Canal, the biggest infrastructure project underway in Latin America.
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