Up until September government institutions had only executed 13% of the total amount of funding provided by the Inter-American Development Bank.
Although changes were made in the legislation to accelerate the implementation of funds in various state entities, there are still obstacles to streamlining processes.
Jairo Flores, chairman of the Finance Committee in Congress, said that of the loans granted by the IDB, "... the Ministry of Health has implemented 30% of them, Education 4.3%, Economy 26%, Communications 5.5%; environment, 66%; Secretariats, 0%; obligations which are the responsibility of the Treasury, 17%, and Development, 0% ".
An announcement has been made that the German government will have a credit line of $113 million available to fund geothermal projects in Central America.
The announcement was made by the German ambassador to Nicaragua, Karl-Otto König, who said in an article on Elnuevodiario.com.ni that "...Central America is a region with 'considerable potential' for generating thermal energy which comes from the ground or from volcanoes. "
CABEI has provided a partial credit guarantee of $669,000 to Financiera de Occidente to hedge financing of the mini hydropower project being developed by Ingenio Magdalena in Guatemala.
The Central American Bank for Economic Integration (BCIE) through the project "Accelerating Investments in Renewable Energy in Central America and Panama (ARECA)", has provided a partial credit guarantee to Financiera de Occidente SA (Fidosa), for an amount of U.S.
Banco Internacional de Guatemala joined the Trade Finance Facilitation Program (TFFP) of the Inter-American Development Bank.
Through this program, the IDB provides guarantees and loans to cover the various types of guarantees required by international trade transactions.
Under the agreement, the IDB provided a credit line of up to 5 million to the International Bank to support export and import transactions with terms of up to 18 months.
Between January and the first week of August 2010, the level of private capital increased from $6.8 to $7.4 billion.
According to information from the Guatemalan central bank, Banguat, the total for the period to August 2010 is $591 million higher than the same period last year, representing an 8.7% increase.
"So far in 2010 investments total $912.5 million, 1.3% up on the $901.1 million in 2009, which was 5.1% below the same period in 2008 when investments totaled $949.9 million," reports Sigloxxi.com.
Cofidis Spanish finance company will provide $25 million in financing for Spanish companies with Guatemalan capital.
Rafael Briz Méndez, president of the Spanish Chamber of Commerce of Guatemala (CAMACOES), reported that this line of financing is also extended to joint venture companies.
"The projects that are eligible are those that have direct Spanish investment, exports from Spain, long-term technology transfers, plant operation by Iberian companies, subcontracting or franchising, among others," Rafael Briz told Prensalibre.com.
Seven strategies that, applying Darwinian maxims, Guatemalan businesses are implementing in order to overcome these times of crisis.
An article by Louisa Reynolds in Elperiodico.com.gt details different strategies that Guatemalan entrepreneurs are carrying out in trying to be more creative in order to take advantage of any new opportunities that may arise.