The Government of Guatemala had to pay $600K for canceling a loan granted by the BNDES in Brazil to buy aircraft from Embraer, another Brazilian company.
S21.com reports that "The government paid $595,461.22 on 19 February because it did not confirm the adquistion of a $133 million loan from the National Bank for Economic and Social Development (BNDES) for the purchase of six A-29 Super Tucano aircraft."
The Government has announced that will negotiate international loans for $920 million for road construction.
The Ministry of Communications, Infrastructure and Housing (CIV) said it would be looking to obtain credit with international banks in order to expand three stretches of highway which go towards border crossings.
The company reported government problems in the financing of hydroelectric projects Llanitos and Jicatuyo, which were to have been built by the Brazilian company.
The Honduran government never disbursed the $100 million it was to contribute towards building dams on the Ulua River in the department of Santa Barbara, said Brazilian Ambassador to Honduras, Zenic Krawctschuk.
The Brazilian Development Bank has loaned $40 million to be used for the expansion of the Cocales-Tecum Uman highway to four lanes.
According to Alejandro Sinibaldi, Guatemalan Minister of Communications, this money is in addition to $40 million which the Central American Bank for Economic Integration (BCIE) has already granted to the ministry.
In Costa Rica the Brazilian company OAS has six months to find someone to pay more than $500 million for a project that has been opposed by 90% of the population.
According to Edwin Rodriguez, technical secretary of the National Concessions Council (CNC), the Brazilian company OAS is negotiating with international banks for the resources to fund the project.
The projects Jicatuyo, Los Llanitos and El Aguán, with a combined potential of 600 MW, have become stalled because the state can not provide its share of funding.
Laprensa.hn reports that "... Jicatuyo and Los Llanitos, in the department of Santa Barbara, were identified 32 years ago. When Congress approved their construction in 2009, it said it would be ready in four years, to date, progress is zero. "
With the planned execution of four road infrastructure works Guatemala's government aims to recover 100% of the country's road network.
Siglo21.com.gt reports that "60% of the country's gross value passes along the route from Escuintla to Retalhuleu and then continues on to the town of Tecum Uman, San Marcos, on the border with Mexico. It is the CA-2 West highway whose importance in the country's economic life makes it have transcendent value. Just on this route alone, according to the Ministry of Economy (Mineco), a million trucks a year pass by with merchandise that comes from the Aztec nation or that is going into that territory. "
Representatives from chambers of commerce and from the Monetary Board have rejected contracts for 2 loans for $166 million for the purchase of aircraft.
Applications for loans of $133 million to the National Bank of Economic and Social Development of Brazil (BNDES) for the purchase of 6 Embraer aircraft and $33 million for the purchase of radars with Banco Bilbao Vizcaya Argentaria (BBVA) of Spain are intended to finance a project submitted by the Ministry of Defense.
The construction project for the Jicatuyo and Los Llanitos dams still needs $150 million in funding.
The project has already raised $100 million from the Brazilian National Bank, $200 million from Banco Centroamericano de Inversión, $20 million of the Brazillian company Odebrecht (who will carry out the works) and $100 million from Empresa Nacional de Energía Eléctrica, ENEE.
The work is six months behind schedule, because funds have not been provided by investors in the project, including Brazil's state run BNDES.
Eliseo Núñez Hernández, president of the Infrastructure Committee, acknowledged the delay in the works in Nicaragua and said they do not know the reason why funding for the project has been detained.
A meeting with the project financer, the National Bank of Economic and Social Development (BNDES) of Brazil has been planned for the end of June .
The president of Nicaragua, Daniel Ortega, indicated his satisfaction at securing the loan during a meeting held with his Brazilian counterpart, Luz Inácio Lula da Silva, in which they signed a joint cooperation agreement.
Businessmen from both countries met to explore joint investment opportunities.
The event saw the participation of presidents Lula da Silva and Mauricio Funes, as well as several business chambers. The chambers remarked Brazil’s willingness of providing credit for productive projects.
The government of Brazil has offered a $300 million loan to renew the country’s bus fleet.
Marcelo Baumbach, spokesperson for Brazil’s government, explained they are negotiating a credit line with BNDES, Brazil’s National Economic and Social Development Bank.
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