Honduras: $250 Million for Electrical Works

The Central American Bank for Economic Integration approved a line of credit for the country to finance works to expand coverage, energy efficiency and resilience to climate change.

Thursday, July 23, 2020

The funds will be used to finance part of the Development Policy Operations Program (OPD) to support the country in implementing the General Law on the Electricity Industry (LGIE).

Dante Mossi, Executive President of CABEI, indicated that "these resources are part of a medium-term programmatic framework that aims to contribute to lay the foundations for the financial consolidation of the electricity sector and its implications in the country's fiscal position, so that work continues for an inclusive and sustainable economic growth, maintaining the country's macroeconomic stability."

Rocio Tabora, Secretary of State in the Honduran Finance Office, commented "we are convinced that maintaining macroeconomic stability is fundamental to achieve sustainable and inclusive economic growth. This requires advancing in the implementation of measures to set in motion the necessary sectorial reforms and policies to improve financial sustainability, operational efficiency and supply adequacy in the national electricity sector."

Regarding investments in the energy sector, CentralAmericaData reports detail that during 2019 80 environmental impact studies were presented to carry out works in electrical networks and build energy generation plants in different areas of Central American countries.

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More on this topic

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.

Costa Rica Keeps Getting into Debt

October 2019

The Legislative Assembly approved a $35 million loan from the Inter-American Development Bank to "support the country in the implementation of its fiscal reform program.”

At the beginning of July, in the midst of the controversy generated by the recent implementation of fiscal reform in Costa Rica, the approval of a credit to strengthen fiscal sustainability was announced.

IMF to Provide Financing to Honduras

May 2019

The entity and the Honduran government agreed to "a combined credit facility of Special Drawing Rights and 24-month Extended Credit Service, for $311 million."

For the country's business sector, the agreement between the International Monetary Fund and Honduras "represents a commitment by the government to maintain macroeconomic stability, a fundamental pillar that favors the country's competitiveness and creates the minimum conditions for the promotion of investment. See "Cohep Expects IMF Agreement to Maintain Macroeconomic Stability".

Costa Rican Government Keeps Going into Debt

April 2019

The Andean Development Corporation approved a $500 million loan to the government of Costa Rica, which will be used to "achieve fiscal sustainability in the short and medium term.”

The Andean Development Corporation (CAF) reported that these resources will be used to obtain the benefits generated by the implementation of the Law to Strengthen Public Finances and Costa Rica's access to international markets.

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