El Salvador: Brazilian Loans for Infrastructure

In the first days of July, President Mauricio Funes will apply for a loan with the National Development Bank of Brazil (BNDES).

Monday, June 15, 2009

The loan will be utilized to finance infrastructure projects.

Elsalvador.com publishes: "The Salvadoran leader said that before his trip, there will be a technical mission to develop the protocols for the agreement that El Salvador will sign with the banking institution."

More on this topic

$40 million in Funding for Road in Guatemala  

July 2013

The Brazilian Development Bank has loaned $40 million to be used for the expansion of the Cocales-Tecum Uman highway to four lanes.

According to Alejandro Sinibaldi, Guatemalan Minister of Communications, this money is in addition to $40 million which the Central American Bank for Economic Integration (BCIE) has already granted to the ministry.

Citibank Announces $10 million Investment in El Salvador

January 2012

There are plans to invest in improving their branches' infrastructure and in modernizing technology platforms throughout 2012.

The institution’s plans are to increase local operations by about 10%, the new CEO of Citi Financial Group, Juan Miró, said.

"'There are opportunities. This year we hope to have a couple of major projects, I am not going to talk about them now', the executive said.

El Salvador: $50 million for Disaster Prevention

November 2011

The IDB has approved a loan to reduce vulnerability to floods and landslides in slums of the San Salvador Metropolitan Area.

A press release by Inter-American Development Bank (IDB) reads:

The program will also invest in basic services and social programs in neighborhoods in San Salvador

$300 Million For Salvadoran Bus System

February 2010

The government of Brazil has offered a $300 million loan to renew the country’s bus fleet.

Marcelo Baumbach, spokesperson for Brazil’s government, explained they are negotiating a credit line with BNDES, Brazil’s National Economic and Social Development Bank.

“Presidents Luiz Inácio Lula da Silva and Mauricio Funes will meet in El Salvador next week to discuss a $300 million loan to renew El Salvador’s bus fleet”, reported Elsalvador.com.

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