Education and Business Credit: $650 Million Approved

The Inter-American Development Bank approved two lines of credit for El Salvador, whose funds will be used for programs to improve the quality and coverage of education, and to promote productive activity through business and housing loans.

Tuesday, September 1, 2020

The first line of credit, amounting to $300 million, will support the expansion and improvement of the quality of education in the country, with a special focus on early childhood and vulnerable populations, sustainability, and the economic recovery of SMEs affected by the Covid-19.

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From the IDB statement:

August 31st, 2020. The Inter-American Development Bank (IDB) announced today the approval of two Conditional Credit Lines for Investment Projects (CCLIP) to El Salvador for a total of US$650 million. This support is expected, on the one hand, to improve human capital through investment in quality programs and educational coverage and, on the other hand, to promote productive activity and social welfare through access to credit in the business and housing sectors.

The first individual loan operations of these CCLIPs, for a total amount of US$300 million, will support the expansion and improvement of the quality of education in the country, with a special focus on early childhood and vulnerable populations, sustainability, and the economic recovery of MSMEs affected by COVID-19, respectively.

Improvement of Educational Coverage and Quality
In order to improve the quality and coverage of education in El Salvador, the IDB approved a CCLIP for $250 million. Among the main objectives is to expand and improve the quality of education in the country, especially in early childhood services; improve the supply of education for vulnerable youth, with a gender perspective; and improve the effectiveness of educational management.



More on this topic

El Salvador: $250 Million for Economic Reactivation

August 2020

CABEI approved a line of credit for the Salvadoran government to finance health care programs focused on mitigating the covid-19 outbreak and plans to reactivate the local economy.

Supporting macroeconomic stability, assisted by the Fiscal Responsibility Law, and strengthening the capacity to respond to the pandemic, through the programs that the government has implemented in response to the emergency, are two of the objectives that the loan approval is intended to fulfill.

Costa Rica: $300 Million More Debt to Face the Crisis

July 2020

The Central American Bank for Economic Integration approved a line of credit for the country to reinforce its fiscal sustainability and strengthen its macroeconomic stability, in the context of the economic crisis that arose from the outbreak of covid-19.

In this way, Costa Rica becomes the first nation to receive the maximum amount of $250 million per year available for each country under the Development Policy Operations Program (DPO), reported the international organization.

$100 Million Loan for Hospital Works

June 2019

The IDB approved a $100 million loan for the construction of new health posts and hospitals in sectors with high rural and indigenous populations in Guatemala.

The funds will be used to finance the project, prioritizing actions in vulnerable departments, mainly in Huehuetenango and San Marcos, given the high prevalence of maternal and child health problems in such regions, reported the international agency.

Nicaragua: $61.5 million for Road to Atlantic Coast

December 2014

The Inter-American Development Bank has approved a loan of $61.5 million to improve access by road to the South Atlantic Autonomous Region.

From a statement issued by the Inter-American Development Bank (IDB):

The Inter-American Development Bank (IDB) has announced the approval of a loan of US $61.5 million to Nicaragua to improve the quality of transport services and national and international integration of the country.

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