The amount of $42 million was approved for the purchase or construction of low-income housing, through a trust fund created by the Central Bank of Honduras.
As a result of the covid-19 pandemic and the natural phenomena Iota and Eta, the Fiduciary Commission (COFID) of the Central Bank of Honduras (BCH) has approved the injection of an additional $42 million through the trust fund created by the BCH, of which $29 million will be destined for the purchase or construction of low-income housing and $13 million for improvements to low-income housing.
The National Congress of Honduras approved a trust contract for the construction of 10,000 social interest housing units.
The housing solution will be developed under a macro urbanization scheme that includes 18 vertical-multifamily housing macro lots in 236 buildings, reported the Legislative.
The General Comptroller of Costa Rica partially approved the $20.7 million trust fund for the San José-San Ramón road corridor.
In a document published on the General Comptroller website on October 10th of this year, it was reported that the approval is given to the trust fund for this road work that consists of the modernization of a 60 kilometer stretch of road between San Jose and San Ramon.
After having faced multiple delays, it has been reported in Costa Rica that in the second half of 2019, the first works to expand the road between San José and San Ramón will begin.
The Minister of Public Works and Transport, Rodolfo Méndez, explained that "... in the second half of next year the start of the expansion work is planned, including three main bridges with resources from CONAVI contributed to the Trust and other works will be defined at a later date such as exchanges and interconnections."
In Costa Rica, six out of eight banks are opposed to the possibility of lending the $35 million required to finance technical studies for a new highway between San José and San Ramón.
Nacion.com reports that "... Since November 29, the Bank of Costa Rica, administrator of the trust for the highway, knocked on the doors of Banco Nacional, BAC San José, Davivienda, Banco Internacional de Costa Rica (BICSA), the Banco Interamericano de Desarrollo (BID) and Instituto Nacional de Seguros (INS) to raise the money. However, those institutions rejected the request for different reasons."
Through a trust the government will provide financing for the purchase of middle class housing, in local currency and at a rate of 8.7%.
From a statement issued by Coalianza:
Tegucigalpa, April 9. With an amount of 600 million lempiras (around $25 million) and to benefit 2,000 Honduran families, the government today announced a trust that will have a special focus on guaranteeing access to housing for the middle class.
The Municipality of Villa Nueva is putting out to tender a structuring and administration service for a loan for up to $24 million with a trust guarantee.
Guatemala Government Purchase 7270186:
"The Structured Credit Administration and Structuring Service will be contracted for up to one hundred and eighty million Quetzales (Q 180,000,000.00) with a trust guarantee for the Planning and Development of the Municipality of Villa Nueva -FIDEVILLANUEVA-
The Costa Rican Ministry of Education used part of a $167 million trust, originally earmarked for the construction of 79 schools, to pay for sanctions imposed by the IADB because of a delay in the execution of those works.
Around $1.7 million was what the Ministry of Public Education (MEP) used to pay the sanction that the Inter-American Development Bank (IDB) imposed on it for not executing the $167.5 million trust within the established timeframe, money which had been allocated for building 79 educational centers and 24 roofed sports courts.
With the changes to the contract approved by the Comptroller General, Banco de Costa Rica has become the project supervisor of the road expansion project.
"...The main change is that Banco de Costa Rica will be in charge of the Project Management Unit (UAP) and therefore will have to provide the entire administrative team needed to manage the next phases of the route.In addition, it will assume work such as the selection of contractors for different works."
After several months of discussions, approval has finally been given to the Bank of Costa Rica to take full control of the construction project for the route between San José and San Ramón.
The financial structure and execution of the work will now be the responsibility of the Bank of Costa Rica (BCR), which was awarded the contract for administration of the trust.For four months the discussion revolved around the conflict of interest that could arise if full control was given to the BCR, delaying the start of works.
Through a trust with the Bank of Costa Rica, plans are underway to build 30 health areas, 22 financial branches and a storage center for supplies and medicines.
Among the projects that will be built with the resources to be administered by the Bank of Costa Rica through the trust is the William Allen hospital in Turrialba, whosetenderwas announced recently.
The trust agreement between the government and Banco de Costa Rica for the implementation of the expansion project of the San Jose-San Ramon road, has received approval from the Comptroller General of the Republic.
The project, indispensable for the development of the northern part of the Great Metropolitan Area, has suffered from years of delay after successive setbacks with concessionaire construction companies, social protests because of the expected rise in tolls and the burdensome compensation paid by the State to these companies.
The law passed in first debate allows the government to establish trusts with state banks, to design and build transportation infrastructure, particularly railways.
From a statement issued by the Legislature:
Deputies approved this afternoon in the processing of the first debate, record 19497, a law authorizing the development of transport infrastructure through trusts, which aims to authorize the Executive Power and the Ministry of Public Works and Transport (MOPT) or the National Council of (CONAVI), or both together, to form trusts in the public interest.
In Costa Rica, Infinito Versol S.A. is planning to issue $42 million in debt bonds in the local market in order to finance construction of a residential development of 1,600 homes.
The issue was authorized by the General Superintendency of Securities in November 2016, and the placement in the local market is scheduled to take place before April this year.
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