Honduran Businesses Asses Aid Cutoff

Businessmen analyzed short-term action plans in the light of measures announced by the United States.

Friday, September 4, 2009

Businessmen from different sectors requested the government legal instruments for creating jobs, such as the Temporary Jobs Law.

Amílcar Bulnes, president of the Hondural Council of the Private Enterprise (Cohep), remarked that "the government must provide legal instruments, and the private sector will do the rest".

More on this topic

Confirmed: World Bank Resumes Aid To Honduras

February 2010

The World Bank announced it will resume $390 million in loans for the new Honduran government.

After a meeting with president Porfirio Lobo, the director of the World Bank, Juan José Daboub, explained they have analyzed 17 projects currently under development, in which $270 million have been invested so far.

World Bank Suspends $270 Million to Honduras

June 2009

Due to the political situation in Honduras, the World Bank suspended the disbursement of a loan in the amount of $270 million to the country.

The World Bank currently has 16 development projects in Honduras worth $400 million, among which are the $270 million that the organization decided to suspend until the political situation is cleared up.

United States Cuts $64 Million in Aid to Nicaragua

June 2009

These CRM funds had been designated for the construction of a highway project and a property regulation project.

The board of directors of the Millennium Challenge Fund (CRM) unanimously resolved to reduce the aid to Nicaragua by $64 million (of a total of $175 million). These funds had been frozen since November 2008 after questioning involving municipal commissions.

United States freezes aid to Nicaragua

November 2008

John J. Danilovich, president of the CRM assistance program, reported that all subsequent payments will be frozen.

Warnings were given. The US ambassador, Robert Callahan, had warned that they would review the level of economic cooperation for Nicaragua due to the claims of fraud in the recent municipal elections.

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