The Central American Bank for Economic Integration expanded the Social Fund for Housing's Global Line of Credit by $60 million to $100 million.
Tuesday, May 28, 2019
From the CABEI statement:
Tegucigalpa, May 24, 2019 - The Central American Bank for Economic Integration (CABEI) granted an extension to the Global Credit Line (LGC) of the Social Fund for Housing for US$ 60 million, the new amount is US$100 million.
The new loan will allow CABEI to increase its support for financing one of the basic needs of the Salvadoran population, especially the social housing sector, said Country Manager El Salvador, engineer Raúl Castaneda.
He added that the operation is consistent with the 2015-2019 Institutional Strategy, in the Focalization Area "Financial Intermediation and Finance for Development" impacting on the Strategic Axis of "Social Development" and is consistent with two of the Sustainable Development Objectives: 8 Decent Work and Economic Growth and 11 Sustainable Cities and Communities, by supporting initiatives oriented to social housing.
Within the expected effects in the short term, derived from the extension of the Global Credit Line, it is estimated that the institution will benefit a total of 417,753 beneficiaries, with 48 percent corresponding to women.
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The Central American Bank for Economic Integration approved a line of credit for the Honduran government to finance the Resilient Housing Reconstruction Program in the country.
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A press release by the Central American Bank for Economic Integration (BCIE) reads:
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