Salvadoran Construction Chamber negotiates $50 million
Ismael Nolasco, general manager of the Chamber, reported that the group is negotiating financing as a alternative fund for the reactivation of the sector.
Friday, December 5, 2008
The representative added that a draft financing project has been made with the International Investment Corporation of the IDB and with the World Bank.
The IDB and the World Bank denied the loan requested by the Salvadoran Chamber of the Construction Industry for the development of 15 projects.
The funds will be used to finance agriculture, the environment, housing construction and for the municipalities in the country.
Panama Canal Authority (ACP) has proposed having ready all financing necessary for the completion of the construction of the third set of locks by the end of the year.
The rising costs of materials and the government's refusal to raise the ceiling price on affordable housing could derail the National Housing Plan.
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