A loan from the Inter-American Development Bank will finance the construction of a new hospital and the implementation of an automated information system in Honduras.
From the IDB press release:
December 12th, 2018. The Inter-American Development Bank has approved a $53.8 million loan to build a new hospital in Honduras that will improve trauma and emergency care services both in the capital Tegucigalpa and the central-southeast region of the country. Through the construction of this hospital and an improvement in health care services, the plan will boost living standards and enhance care for patients with external injuries, in addition to easing the workload at the University Hospital.
Banco Centroamericano de Integración Económica signed a loan contract with the FCC Consortium to finance the six-lane extension of the beach corridor in Panama, Section I: La Chorrera-Santa Cruz.
The project "Expansion to six lanes, Las Playas Corridor, Section 1: La Chorrera-Santa Cruz, which has an approximate length of 36.3 kilometers, and begins at the end of the Arraiján - La Chorrera highway and ends at the entrance to Santa Cruz (before the crossing over the Lagarto River)," was awarded in November 2017.
In Panama, the executive authorized a credit line of up to $50 million for the state-owned Etesa to finance investments contemplated in the electric expansion plan.
The approval for the Empresa de Transmisión Eléctrica, S.A. (Etesa) to subscribe a line of credit with Banco General, will allow the state company to partially financemaintenance works to the electrical distribution network in the country.
The Latin American Development Bank approved a loan to finance projects to improve the drinking water distribution system in the country's metropolitan area and other provinces.
The Board of Directors of the Latin American Development Bank (CAF) approved a USD 200 million loan to the Republic of Panama to support the National Investment Program for the Water and Sewerage Sector (PRONAISA). This program aims to improve the coverage, quality and reliability of drinking water supply services in the metropolitan area of Panama and in the province of Colon, reaching nearly one million inhabitants, and to improve sanitary and environmental conditions in the provinces of Bocas del Toro and Chiriqui, through the construction, expansion and optimization of sewage and wastewater treatment systems, which will have a positive impact on nearly 40,000 people.
The National Port Company Santo Tomás de Castilla will seek external financing to develop the expansion works planned for the port terminal in the next five years.
According to the representatives of the Empresa Portuaria Nacional Santo Tomas de Castilla (Empornac), in the next five years a cruise terminal will be built, one for solid and liquid bulk, and another for containers.
In Nicaragua, the license of CrediFactor S.A. to offer securities to the public was revoked due to the difficulties the company is facing in paying for the securities.
The executive president of CrediFactor, Mauricio Pierson Stadthagen explained to Elnuevodiario.com.ni that "...
Although up to July loans granted by Nicaraguan banks totaled $5.047 million, 5% more than in the same month in 2017, since May it has been decreasing month by month.
Credit granted by the financial system increased 5.4% year-on-year in July (8.4% in Jun-18), reaching a gross portfolio of 162,568.2 million of cordobas. However, in terms of levels, the credit shows a decrease for the third consecutive month, reported the Central Bank of Nicaragua.
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.
Because of the hike in interest rates in the United States, several banks in Panama are already increasing mortgage rates by between 0.25% and 0.50%.
According to representatives of the Banking Association of Panama (ABP), the increase in mortgage loans is mainly due to the upward adjustment that interest rates are experiencing worldwide, which will affect the Panamanian market in the short and medium term.
In Honduras it has been reported that the $80 million that will be granted to the coffee sector is in the stage of consultation, risk analysis and verification of loan conditions.
Representatives of the Honduran Coffee Institute (Ihcafé) reported that two banking entities presented their proposals to manage the financing, which will be under the modality of syndicated credit, which consists of several institutions lending the funds, but only one will manage them and establish the conditions.
A bill being discussed in the Guatemalan Congress proposes extending the term of the trust for renewal of coffee plantations and supporting producers until 2051.
The legal initiative for the Economic Reactivation of Coffee proposes altering the expiration date of the trust, currently foreseen until 2026, so that the coffee growers can have access to the resources until the year 2051.
In order to deal with the difficulties caused by the low international price of the grain, the Honduran government plans to make resources available to 120,000 coffee producers.
The Honduran presidency reported through a statement that one of the decrees, approved by the National Congress at the proposal of the Executive, creates the Special Guarantee Fund for the Coffee Sector with an initial contribution of 300 million lempiras ($12.7 million) from the Honduran Bank for Production and Housing (Banhprovi), which will provide 2,400 million lempiras ($101.9 million) in reciprocal guarantees, which will serve to propitiate operations of twice that value ($203.8 million).
On top of an international context with low prices, coffee producers in Nicaragua also have to deal with the complications arising from the sociopolitical crisis and a lack of financing options.
As if coffee production's current position in the unfavorable context of low international prices was not enough of a problem for coffee farmers, in Nicaragua they are facing yet other disadvantages, which only complicate the sector's prospects further.
The new tax reform proposal being discussed in Costa Rica raises capital gains tax from 8% to 15%, and also excludes recognising as a debt deposits made by issuers in the securities market.
In the view of the National Stock Exchange (BNV), not recognizing deposits made in the stock market as debt leaves it at a clear disadvantage, compared to banks, as a source of financing for companies.Not only does it compromise access to investors' savings, it also significantly limits companies and individuals investment options.
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