The U.S. International Development Finance Corporation offered a $250 million quota for companies in the country to invest in health sector projects.
Directors of the International Development Finance Corporation (DFC) were the ones who reported last May 11 the existence of these financial resources. The exclusivity of these $250 million for companies in the health sector is due to the current health emergency situation, which derives from the outbreak of covid-19.
The $286 million credit granted by CABEI to renovate coffee plantations in Guatemala has not yet been approved by local authorities, so resources would only be available in the second half of 2020.
The Central American Bank for Economic Integration approved a loan, which will be used to finance a program to renovate the country's coffee farm.
The financing is destined to the renovation of the coffee park of the country, through the substitution of plants damaged by plagues and diseases or with greater age that allows to revert the losses of productivity by the aging of the plantations and the effects of the rust, estimating the renovation of approximately 19.9% of the coffee park of Guatemala, informed the financial entity.
The IDB approved a $100 million loan for the construction of new health posts and hospitals in sectors with high rural and indigenous populations in Guatemala.
The funds will be used to finance the project, prioritizing actions in vulnerable departments, mainly in Huehuetenango and San Marcos, given the high prevalence of maternal and child health problems in such regions, reported the international agency.
World Bank financing will be used for recovery from earthquakes, volcanic eruptions, floods, hurricanes and other natural disasters.
Resources will be disbursed on a deferred basis in the event of catastrophes, and funds would be activated and disbursed following an official State declaration of public calamity, in accordance with national legislation.
With IDB financing, a road improvement and rehabilitation program will be implemented in Guatemala, connecting productive areas and departmental capitals to the main network.
The Inter-American Development Bank (IDB) reported that the total project amount is $150 million from concessional ordinary capital, with an amortization period of 24 years, a 6-year disbursement period, a 6.5-year grace period and an interest rate based on LIBOR.
The World Bank could provide $45 million required for the first phase of the project in Puerto Quetzal, Guatemala.
The International Finance Corporation, a member of the World Bank Group, is looking at providing a loan of $45 million to finance the first phase of the Quetzal Container Terminal. The director of the bank could approve the loan next month.
The expansion of the Atlantic Road will be funded with a donation of $50 million and other $50 million in loans.
The Taiwanese government will donate $50 million for the expansion of the Atlantic Highway, and has also authorized a soft loan for another $50 million for the project which has a cost of $119 million.
If Congress does not approve loans which enable funding of the state budget, the crisis could be severe.
Roberto Villate, head of the Lider back bench group, said that as a block, they do not support the loan approval because from the beginning they did not agree to an underfunded budget and one without any programatic basis. The official said that with each loan "the country takes one more step in the direction of Greece or Cyprus".
The Development Bank of Latin America has provided a loan of $300 million to the Spanish Official Credit Institute for promoting business development between Spain and Latin America.
From a press release issued by the Development Bank of Latin America (CAF):
The executive is negotiating a loan for the expansion of the road between Escuintla and Ciudad Pedro de Alvarado, in Jutiapa.
Aljenadro Sinibaldi, Minister of the Presidency, said that in the next few days a bill will be sent to Congress for acquiring these funds, which are part of the second phase of widening the road.
The loan for this project would be implemented by the Ministry of Communications, and was announced along with two other potential loans, one of $237 million to fund the current budget and one of $280 million for hospital investments.
The Guatemalan Congress has approved borrowing from banks in Brazil and Argentina for the purchase of six Super Tucano aircraft and a tactical air control center.
Elperiodico.com.gt reports that the preamble refers to the need to monitor areas like Alta Verapaz, Baja Verapaz and Petén, to weaken the activities of organized criminals and drug traffickers in these regions under project entitled ‘Construction of a System for Monitoring and Protection of the Mayan Biosphere.
The IADB loan to Guatemala for the purpose of "generating more tax revenue" is another example of the current inflation of funding promoted by international bureaucracy to pay the salaries of national bureaucracies.
EDITORIAL
An article by Jose Raul Gonzales in the blog of Guatemala's economic think tank CIEN, reveals one of the many cases in which international financial organizations, supposedly created to help nations develop, engage in financing consulting activities, which end up being just expenses instead of financing real economic sectors.
The Guatemalan company Continental Towers will receive funding from the International Finance Corporation to build and maintain cell towers in Central America.
According to an article in Elperiodico.com.gt, "The IFC's investment includes a loan of $40 million and a syndicated loan of $80 million with Banco HSBC Panamá, Banco General de Panamá, the Dutch Entrepreneurial Development Bank (FMO) and the Inter American Corporation for Infrastructure Financing. "
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