El Salvador: $25 million to Support Tourism

The funds will mainly be applied to infrastructure construction projects in the Gaza coastal marine area and loans for tourism SME's.

Friday, August 16, 2013

The Inter-American Development Bank has provided a loan of $25 million for a program of tourism development in the coastal marine strip.

This was announced by Minister of Tourism, Jose Napoleon Duarte, adding that once the Inter-American Development Bank (IDB) has approved the loan "we move on to the country's internal processes" for ratification by Congress.

The loan will be used to build tourist sites in the coastal marine strip, worth about $11.6 million. In addition, $2 million will be set aside to finance micro and small tourism enterprises in the country.

"... Another $ 3.1 billion will be spent on "tourism governance", which includes strengthening information systems and improving tourism statistics and Tourist Police, both in terms of training and in equipment." Also to be financed is environmental quality monitoring services and management plans and investments in a tourism square and an ecotourism park.

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