Salvadoran Banks ask for lower credit rate from the IDB

ABANSA believes that the cost of accessing the $500 million made available with IDB funds is too high.

Thursday, December 4, 2008

Armando Arias, president of the group said that the rate of the funds corresponds to the LIBOR plus 400 base points more in commissions and is practically the same as the rates offered by other international lenders.

More on this topic

Honduras: $27 Million for Agriculture Projects

January 2010

The Inter-American Development Bank (IDB) will loan $27 million to a program fostering rural business.

The funds are earmarked for the departments of Olancho, El Paraíso, Colón and Gracias a Dios, and intended to fund projects by small producers. It is part of the National Program for Sustainable Rural Development (Pronaders).

El Salvador: $500 Million more from IDB

June 2009

The funds will be available beginning in 2010 and they will be used to fund some projects of Mauricio Funes’ new government.

The president of the Inter-American Development Bank (IDB), Luis Alberto Moreno, announced the new line of credit granted to El Salvador during a visit to the country. This loan is in addition to the $450 million loan granted in 2009 by the same body.

IDB Includes Multibank Panama in TFFP Program

April 2009

Multibank has become the third bank to join the Panamanian Facilitation of Foreign Trade Financing Program (TFFP).

Through TFFP, the IDB offers guarantees to cover letters of credit, promissory notes, bid bonds, performance bonds, advance payment bonds and other instruments used in International Trade transactions.

IDB Increases Support to Central America

March 2009

During a meeting of Governors, IDB President Luis Alberto Moreno announced that the entity will increase its support to countries in the region.

Proceso Digital published on its website: "’At this juncture, we have to lend more and that is our obligation and why we are here,' said the head of the IDB in his opening speech.

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