Cancelation reasons of land administration project in El Salvador

The factor leading to the cancellation of the Project was the government's failure to gain consensus and obtain the second and final Congressional approval by a qualified (two thirds) majority required for approval of external borrowing and for project effectiveness.

Thursday, November 8, 2007

A lesson learned for the Bank is that in countries such as El Salvador where loans have to be ratified by a qualified majority of Congress, and the Congress is deeply divided, the Bank needs to recognize that loans may not be approved, despite every effort to meet with opposition leaders, explain the purposes of the projects, answer questions, provide information on previous operations, as well as information on the macroeconomic, fiscal and debt situation.

More on this topic

El Salvador: $170 million for Hospital Works

June 2018

The Congress has ratified a loan with the Inter-American Development Bank to build two hospitals and make improvements to the health system.

The Legislative Assembly reported that " ... After constant approaches to achieve the required consensus, the Legislative Assembly unanimously ratified the loan contract between the Executive and the Inter-American Development Bank (IDB) for $170 million to finance the Integrated Health Program II. With the resources it will be possible, among other things, to carry out construction of a new Rosales Hospital and a General Hospital in the northern zone of San Salvador in Nejapa."

El Salvador: $60 million to be Invested in Software and Road Works

April 2018

Congress has approved a loan to finance the development of an advanced computer platform and for rural road maintenance projects.

The Legislative Assembly of El Salvador reported that loan contracts to carry out government works were approved. According to a statement, " ...

Marine Landfill for Real Estate Development

November 2013

A law is being proposed to facilitate management of the rights to a 40-hectare landfill on the seabed adjacent to ATLAPA.

The project was presented to Congress by the Minister of Public Works, Jaime Ford. The plan is to add an article to the law which would regulate the system of execution of public works.

Distribution and Sale of Banana Plantations

June 2012

The Land Authority of Panama is evaluating the auction of 3,200 hectares of land in the area of Baru.

"The 5.600 hectares that belonged to the Multiple Services Cooperative of Puerto Armuelles, R. L. (Coosemupar) will be divided between 2.400 former employees of the cooperative, while the possibility of auctioning or selling the remaining 3,200 hectares is assessed", reported Laestrella.com.pa.

 close (x)

Receive more news about Government

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Financian software for investment portfolios, mutual and pension funds

Colombian company with more than 30 years in the market develops technological solutions that allow to manage in an integrated and timely way investment portfolios.
Solutions to manage investment portfolios, investment...

Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Jun 22)
Brent Crude Oil
74.51
Coffee "C"
117.25
Gold
1,270
Silver
16.400