The World Bank announced it will resume $390 million in loans for the new Honduran government.
After a meeting with president Porfirio Lobo, the director of the World Bank, Juan José Daboub, explained they have analyzed 17 projects currently under development, in which $270 million have been invested so far.
“I have also told the president and the members of the economic cabinet that the bank has $120 million available for whatever priorities the government indicates” said Daboub.
Juan José Daboub, director of the World Bank, visited the country, making it the first official action of the financial entity.
William Chong, Honduras, finance minister, told journalists at a press conference that Daboub plans to meet with president Porfirio Lobo, the council of ministers and the economic cabinet.
Chong added: “In this visit, we hope to define the guidelines for a fast recognition of the new government of Honduras”.
The World Bank is considering to lend the country $1 billion in the next 4 years for infrastructure projects.
The announcement was made by Juan José Daboub, Director for Latin America at the WB, adding that “Ricardo Martinelli and his economic team ... presented a strategic investment plan, ... which focuses on infrastructure, education, tourism and security ... specially the metro system and road infrastructure”.
The financial crisis will affect all Latin American countries, despite the fact that they are better position than in the past to withstand it, said Juan Jose Daboub, general director of the World Bank.
Daboub, ex minister of Economy for El Salvador, will be in Panama next week and in his country of origin, where he will participate in the Ibero-American Summit.
The World Bank is offering a 500 million dollar loan package to the El Salvadorean government and to the opposition, with low interest rates and an extended repayment period.
It said that now is the time to restructure debt and that this will be necessary for the next government, no matter which party forms it.
Juan José Daboub, general director of the World Bank, says he recommends debt restructuring to the nation and to the region, to the government and to the opposition, with the goal of dealing with the world food crisis and reducing financial burdens.