El Salvador Not Using IDB loans

The Assembly still hasn’t approved funding for $260 million awarded by the institution.

Monday, August 22, 2011

Projects such as the so-called Comunidades Solidarias Urbanas (Urban Caring Communities) have not been able to begin development due to the delay in the approval and ratification of loans which the Inter-American Development Bank has committed to the Central American country.

The $260 million pending are part of a package totaling $280 million to be used between 2010 and 2014, of which only $20 million has been approved and used for the Ciudad Mujer (Women’s City) project, promoted by the Secretariat for Social Inclusion.

An article in Elmundo.com.sv's notes, "the IDB representative in the country, Rodrigo Paroy, expects the loans to be approved and ratified by the Legislature before the end of the year. The loan program negotiated and agreed between the IDB and the Executive for the period 2010-2014, includes major projects such as Urban Caring Communities. In fact, Congress has not yet ratified $35 million for this plan that remains from the 2010 programming,

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