45 Projects Paralyzed by Political Crisis

$684 million in projects are on hold in Honduras, due to IDB and WB freezing financial cooperation with the country.

Friday, October 16, 2009

38 projects are awaiting $456.7 million in funding from the Inter-American Development Bank. Likewise, the World Bank has 17 active projects, with $227.4 million to be disbursed.

An article in Laprensahn.com discusses the measures taken by these international organizations: "These decisions impact negatively in the public investment program. 360 projects were approved for 2009, requiring $12.6 billion in investment. Out of this, 32.4% ($4.1 billion) was to be funded with external resources. All external cooperation was paralyzed after the second semester".



More on this topic

IDB Resumes Financing For Honduras

March 2010

The board of directors of the IDB has decided to resume relations with Honduras.

In a few days, the Inter-American Development Bank will send a mission to Honduras, which could announce the portfolio of joint projects for 2010.

"Most multilateral financial institutions such as IDB, the World Bank and the IMF suspended relations with Honduras after the political crisis", reported Laprensagrafica.com.

Confirmed: World Bank Resumes Aid To Honduras

February 2010

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.

Honduras Hopes for Reactivation of Credit

November 2009

After the political agreement, the country hopes to restore international loans and cooperation estimated at $739 million.

The financial blockage was imposed by the United States, the European Union and Venezuela, together with financial institutions such as IMF, WB, IDB and CABEI, after the political events of June 28th.

World Bank Suspends $270 Million to Honduras

June 2009

Due to the political situation in Honduras, the World Bank suspended the disbursement of a loan in the amount of $270 million to the country.

The World Bank currently has 16 development projects in Honduras worth $400 million, among which are the $270 million that the organization decided to suspend until the political situation is cleared up.

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