US Signs Cooperation Agreements with El Salvador and Honduras

The agreements will make alternative sources of finance available to the countries for development projects.

Friday, September 24, 2010

The initiative is referred to as the Building Remittance Investment for Development Growth and Entrepreneurship (BRIDGE) and seeks to "strengthen economic growth through remittances sent from abroad as part of a goal to bring more people into the financial system," according to

The Salvadoran agreement was signed between US Secretary of State, Hillary Clinton, and El Salvador's Foreign Minister, Hugo Martínez.

Clinton commented that BRIDGE represents the leadership and commitment of Presidents Funes and Porfirio Lobo who are looking to, "improve the economic development of their countries". The initiative is supported by US government finance agencies as well as USAID.

More on this topic

El Salvador Funds Tourism Projects

July 2012

The Development Bank of El Salvador (Bandesa) is providing up to $1.75 million in financing for tourism projects.

The loans can be used for acquisition of property, construction of hotels, certifications in food handling, purchase of machinery and vehicles and market research.

Five Year Plan Only Has 48% Funding

April 2010

The Government of El Salvador plans to invest $4.86 billion until 2014, but has only secured funding for $2.32 billion so far.

Presidential secretary Alex Segovia explained they have already prioritized the government’s projects and programs, defining define which ones receive funds first.

Honduras: $8 million for Banco de Occidente

December 2008

The funds will be used to finance agriculture, the environment, housing construction and for the municipalities in the country.

The loan, grated by the Central America Bank for Economic Integration (BCIE), was approved from the beginning of this year by Western Bank in order to facilitate the development of the sectors, indicated company president, Jorge Bueso.

Salvadoran Construction Chamber negotiates $50 million

December 2008

Ismael Nolasco, general manager of the Chamber, reported that the group is negotiating financing as a alternative fund for the reactivation of the sector.

The representative added that a draft financing project has been made with the International Investment Corporation of the IDB and with the World Bank.

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