Bureaucracy threatens loans worth $179 million

In Guatemala, legislative barriers are delaying 3 loan approvals for infrastructure, competitiveness and development.

Wednesday, April 25, 2012

Three loans totaling $179 million are in danger of being lost due to delays in Congress in approving the loans, despite having them on the agenda.

One is for $29 million for a National Programme for Competitiveness (Pronacom), which is on the verge of collapse due to lack of funds, reports El Diario de Centro America.

Also pending is the approval of a $50 million loan from the IDB for water and sanitation projects. The third loan is for $100 million, granted by Japan to improve the country's roads.

The delay in approval is due to interpellations requested by some Members.

More on this topic

The Money is Ready, but the Lawmakers are not ...

March 2012

The Japanese Ambassador to Guatemala lamented a stalemate in Congress for approving a $120 million loan for road infrastructure.

"While I respect the procedures that each country has to follow, it doesn’t send out a good message that this loan has been stalled by internal processes," said Teruaki Nagasaki, Japanese Ambassador to Guatemala, as quoted by Elperiodico.com.gt.

Costa Rica: $200 million for Municipal Roads

July 2011

The Costa Rican Legislative Assembly has approved a $200 million loan for road infrastructure.

The Inter-American Development Bank (IDB) loan, is part of a loan package of $850 million, which will be disbursed in installments.

"These resources, which are exclusively for matters relating to road infrastructure, will be used for a second tranche of cantonal road development in a number of towns and roads that have already been established, the projects will be monitored by a unit of the Ministry of Public Works and Transportation", published Prensalibre.cr.

Costa Rica Approves $52.4 Million for Highway

June 2010

The Legislative approved a loan from the Andean Development Corporation (CAF) to build a road that will link the Caribbean with the country’s north.

The money will be administered by the Costa Rican Public Works Ministry, and will be used to develop the highway project, known as “Bajos de Chilamate – Vuelta Kooper”.

Costa Rica Could Lose $850 million in Loans

May 2009

IDB loans in that amount for road infrastructure have not been implemented and are at risk.

During a visit to Costa Rica, IDB president Luis Alberto Moreno urged the country's legislature to approve the use of funds for roads, ports and airports, indicating that excessive delays could put the loan at risk due to the high demand of resources by other countries.

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