The government of Panama intends to create a trust fund fed by payments from buyers of construction sites, to be used as collateral against the project being abandoned or defects being discovered.
The Authority for Consumer Protection and Competition (Acodeco) is proposing a trust as part of a system that protects consumers in the event that the promoters of a construction project abandon it or fail to deliver the warranties after completed.
Errors in the tender specifications for the management of trust funds for the 'Tasa Temporal de Seguridad Poblacional', have forced it to be declared void.
According to an article Latribuna.hn the Finance Minister Hector Guillen, said "We had a small problem with the bidding process, it was declared void, unsuccessful, we will try to go to an auction as quickly as possible to see if next week, we can sign up a trust company. "
Institutions and leading companies in Costa Rica are planning to run for the position of administrator of the National Telecommunications Fund.
Some 25 entities or organizations have shown interest in the project to implement the National Telecommunications Fund (Fonatel) which has funds of $180 million.
Some of the stakeholders are: Deloitte & Touche, Ernst &Young, Fundación Comisión Asesora en Alta Tecnología (Caatec), Fundación Costa Rica-Estados Unidos (Crusa), Fundación para la Investigación de la Universidad de Costa Rica (Fundevi) and Microsoft. The complete list can be found on the website of the Superintendencia de Telecomunicaciones (Sutel) at www.sutel.go.cr, reports Nacion.com.
The tender is for the provision of technical expertise to design, develop, recruit and manage projects and programs for Universal Access Service to Telecommunications.
15 companies and at least 2 independent consultants participated in a preliminary hearing to the tender for the procurement of services to form the Management Unit of the Trust to be in charge of the projects of the National Telecommunications Fund (FONATEL).
The Honduran Council of Ministers has approved a draft decree relating to a trust agreement for the structuring, development and financing of the operation of the bulk cargo terminal at Puerto Cortes.
From a press release by the Presidency of Honduras:
The Council of Ministers, of the government of President Porfirio Lobo Sosa , approved the draft decree on Tuesday relating to a trust agreement for the structuring, development and financing of the operation of a bulk cargo terminal at Puerto Cortes, at the request of the National Commission for the Promotion of Public-Private Partnerships (COALIANZA).
The bank will arrange for a team of advisers who will structure an international tender to award works for modernizing the port.
After calling a tender, the official body Coalianza has chosen Honduran Banco Financiera Comercial SA (Ficohsa) as trustee bank and arranger of the modernization project of Puerto Cortes.
Using the mechanism of Public Private Partnership (PPP), Ficohsa, as trustee and arranger, is responsible for hiring a team of consultants (independent companies) in the technical, economic, financial, socio-real estate, environmental and legal fields, which together with Coalianza will create the documents entitled the "Project" and "International public tender to modernize the port facility", reports Elheraldo.hn.
CIPLAFIT 2012 will be held in Costa Rica from 18th to 20th April, featuring 12 keynote speakers of international standing exposing to more than 350 professionals.
This event represents an opportunity for all professionals involved directly or indirectly with trusts and securities. CIPLAD International is planning an event in this important sector, which will include 12 professionals of international standing from Mexico, Guatemala, Costa Rica, Colombia, Bolivia and Argentina sharing knowledge with over 350 professionals of various nationalities regarding the latest trends and news in this important sector .
Authorities in Guatemala are offering $25.57 million in subsidies and loans to provide access to high technology irrigation systems.
The Ministry of Agriculture, Livestock and Food (Maga) has created a fund called the Integral Development Program for Areas with Potential for Irrigation and Drainage (Plamar in Spanish), which aims to ensure access to irrigation systems with modern technology.
The Bank of Costa Rica is the new administrator of the National Trust for Development, having secured the tender created for that purpose.
The Governing Board of the Banking System for Development (SBD) awarded by unanimous vote the administration of National Development Trust (FINADE), to the Banco de Costa Rica (BCR), following a tender.
The approval of a trust agreement with Banco de Costa Rica will allow the Legislature to advance construction of its new facilities.
The referendum on the trust by the Controller General of the Republic has enabled construction of a new home for the Legislative Assembly and the restoration of existing buildings.
According to an article on the web site of La Prensa Libre, "In addition, the Legislative Assembly has been granted permission to lease facilities for the term defined in the relevant contracts which will be signed once the agreements between the institution and the Bank of Costa Rica in a fiduciary capacity, have been made.
The Cabinet has approved the creation of a special trust for the construction of a bulk cargo terminal at Puerto Cortez.
A press release from the President of Honduras reads:
The Council of Ministers approved on Tuesday (December 20, 2011) a contract for a special trust for the construction of a bulk cargo terminal at Puerto Cortes, as part of the expansion and modernization of the national port platform.
In the last 11 months, 4 projects have netted $37 million using this mechanism.
Municipalities and schools are some of the entities that have used, successfully, sales of bonds backed by income streams, in order to finance their projects.
This has been revealed from data from the Salvadoran Stock Exchange which announced that to date, more than $37 million has been raised using this method of financing.
Although it is still awaiting regulation, Act 741 of the trust agreement will enable new ways of doing business in Nicaragua.
Act 741, which concerns trust agreements was approved by the Assembly on November 4, 2010, and published in the Official Gazette on January 19, 2011.
Gisella Canales’ article on Laprensa.com.ni reported that the international firm KPMG, which provides audit, tax and advisory services, "initiated a series of studies on the use of trusts in Nicaragua, in order to promote the use of this legal model as an instrument to generate business."
This fund will cover the additional costs of buying electricity that the Esti hydroelectric plant is unable to produce.
The damage to the Esti hydroelectric dam, which is due to be operational again in May 2012, has forced Empresa de Transmisión Eléctrica S.A to sign a trust agreement for $315 million with the Ministry of Economy and Finance (MEF).