The Inter-American Development Bank has announced that it will provide a loan of $20 million to fund feasibility studies for a port in the Caribbean.
The funds provided by the entity will be used for studies needed to determine the characteristics of the area, the exact location and cost of building the infrastructure, as well as any possible environmental impact on the coast of Bluefields.
The President of the IADB has advised Costa Rica to make a tax reform to raise taxes arguing that today the teetotum indicates "everyone gives".
EDITORIAL
The use of the old fashioned game of a faceted spinner by the head of the hemispheric institution as example, deserves to have the whole story told: the person who spun the teetotum was the Costa Rican government, the same participant of the "game" who on their previous turn benefited from the teetotum when it landed showing "TAKE ALL". Luis Alberto Moreno is saying that the serious fiscal crisis which the country now finds itself in means that now everyone must contribute to its solution. That means aproving more taxes.
Some of the main businesses from El Salvador will be advocating for the realization of Fomilenio II and for a deepening of the Association for Growth pact signed between the two countries two years ago.
From a press release by the Presidency of El Salvador:
A delegation from the National Council for Growth will make an official visit to Washington DC from 24 to 26 June, where meetings will be held with senior government officials and the Congress of the United States, under the framework of the first 18 months of the Partnership for Growth.
In preparation for his visit to the region, the U.S. president is meeting with business leaders who have a "significant presence" in Mexico and Central America.
According to the White House, the goal is to talk with employers, before his trip to the region next week, about "opportunities to expand U.S. trade with Mexico and Central America", with the goal of creating jobs and "reducing barriers to growth" in the region.
Communications currently being the engine of development, Latin America is moving at low speeds in a vehicle that is too costly.
An article in Elfinancierocr.com quotes the President of the Inter-American Development Bank (IDB), Luis Alberto Moreno, who highlights what all Latin Americans are suffering from: a brutal disadvantage in the availability of broadband connectivity, compared with developed countries.
"This year we will maintain our response and commitment to the region," said Alberto Moreno. “The $ 2.000 million” he added, “will be used to address infrastructure priorities, particularly roads, energy, social safety nets, with an emphasis on strengthening health services, education, housing, natural disasters and climate change, finance and public safety.
The IDB will make available $ 1.000 million over the next four years to develop infrastructure and energy projects.
Among projects to be developed is the improvement of the bay area in Panama City, programs to strengthen the energy sector, investments in sanitation and drinking water and programs which strengthen fiscal management.
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 loans in that amount for road infrastructure have not been implemented and are at risk.
During a visit to Costa Rica, IDB president Luis Alberto Moreno urged the country's legislature to approve the use of funds for roads, ports and airports, indicating that excessive delays could put the loan at risk due to the high demand of resources by other countries.
In good times, multilateral lending agencies do not have too many customers. In times of crisis, everyone needs them.
To continue to grow and not stagnate, Latin America needs foreign investment in an amount ranging from 5% to 6% of the GDP in the region. It is $200 billion, a figure too large for the current scope of these credit institutions.
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