$ 20 Million for Municipal Markets in El Salvador

The IDB loan will increase competitiveness and incomes of micro business.

Tuesday, December 7, 2010

The municipal markets of El Salvador will modernize and improve operations and facilities with a loan of U.S. $ 10 million from the Opportunities for Majorities of the Inter-American Development Bank. The initiative includes other loans of up to similar amount syndicated to international lenders.

The funds will facilitate construction and renovation of infrastructure, technological as well as functional and administrative management, allowing increasing competitiveness and incomes of micro-entrepreneurs and contributing to the development of local economies.

Most beneficiaries are women head of small home based businesses dedicated to selling food, fruits and vegetables, clothing and crafts.
The Opportunities for Majorities Initiative promotes a sustainable business model based on the market, involving private companies, governments and local communities to provide quality products and services improving the quality of life for low-income sectors.

The Bank's loan is for seven-years with a grace period of one year, and an interest rate based on Libor.

More on this topic

Fedecrédito to Finance Construction of Municipal Markets

July 2011

The Federation of Credit Unions in El Salvador hsa signed a $20 million loan with the IDB for the construction and renovation of municipal markets.

Macario Armando Rosales, president of Fedecrédito said that funds from the Inter-American Development Bank will be directed to the municipalities through long-term loans.

$19 million for Salvadoran Municipal Markets

September 2011

The IBD has finalized a syndicated operation with three impact investors to support a line of credit that will finance the modernization of municipal markets.

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

“The Inter-American Development Bank (IDB) has finalized a syndicated loan of U.S.

Spanish Consortium to Build David Market

May 2011

The consortium Cleop, S.A-Mejores Acabados S.A., has been awarded the construction and equipping of the new David public market in Panama.

This infrastructure, which forms an integral part of the Cadena de Frío (Cold Chain) project will allow butchers, vegetable vendors and hawkers to conduct their business safely and with allow more space for users to buy safely, and in hygienic conditions.

Concession for Public Market in Colon Awarded

October 2011

Omega Engineering Inc. has been awarded the contract to build and equip the new site for the public market in the city of Colon.

The official reference price for the Colon market was $18 million and the Omega Consortium,offered $ 17,779 000.

"In the best value tender with a reference price of $18 million, bids from Constructora Urbana, S.A., (Cusa), and Construcciones Civiles Generales, S.A.", were disqualified ", reported Prensa.com

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