With a $50 million loan from the IDB, the CMI Alimentos business group will expand its operations in Guatemala, El Salvador and Honduras.
The loan was placed through IDB Invest, a member of the Inter-American Development Bank (IDB) Group, and the operation is intended to finance fixed investments that will help CMI Alimentos continue improving its productivity.
Banco Agromercantil de Guatemala announced a $43 million loan for the construction of part of the 54 MW Ventus wind farm to be located in the municipality of Metapán.
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.
The Tala loan app provides an alternative way to get short-term loans, that doesn’t involve complex procedures that are in use by banks and other lending institutions.
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Reducing income tax for coffee growers from 7% to 5% is one of the most outstanding elements of the decree approved by the Guatemalan Congress.
During the session of April 3, 2019, the Plenary of Congress approved Decree 4-2019, Law for the Economic Reactivation of Coffee that extends until October 23, 2051 the trust of the sector, informed the Legislative by means of a statement.
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.
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.
The international loan approved by Congress will be used to improve the response capacities of the country's emergency services and health services, social protection services and agricultural recovery.
From a statement issued by the Congress of Guatemala:
$14 million will be allocated to renovating 50 thousand hectares of coffee plantations, with varieties less vulnerable to climate change and more resistant to diseases such as rust.
The head of the Colombian Ministry of Finance reported that "...
The Latin American Bank for Foreign Trade has granted Dos Pinos a syndicated loan of $100 million over five years, for three of the companies belonging to the cooperative.
Guatemalan businesses have declared persona non grata congressmen who voted for a law which exempted general secretaries of political parties from responsibility in matters relating to illicit electoral financing and increased the possibility of commuting prison sentences with money.
The law, popularly known as the "Corruption Pact", was heavily resisted by Guatemalan society.Pressure from the populace, together with a resolution contrary to the norm from the Constitutional Court, forced Congress to backtrack and archive the law.
Four petitions for pre trial hearings have already been lodged against President Morales, following his request to expel the leader of the International Commission against Impunity from Guatemala.
EDITORIAL
In less than a week a series of events took place which have left the country on tenterhooks.The Public Ministry and the International Commission against Impunity in Guatemala (Cicig) filed a petition for a pre trial hearing against President Morales for alleged illicit electoral financing; Morales declared the Commission of the Cicig, Iván Velásquez, persona non grata, and requested his expulsion from the country. In response to this, three other requests for preliminary hearings have been filed in the last few hours.
In Guatemala a proposal has been made to apply mechanisms such as leasing and securitization to facilitate house buying.
From articles published on Dca.gob.gt:
"With the goal of providing Guatemalans with access to a decent home, national and international experts in the development of housing and infrastructure tools this morning proposed housing leasing and securitization.During the event, a presentation was given on the functioning of housing leasing, a mechanism which would provided an opportunity for access to housing for those people who do not have a down payment to buy their first home."
The government has announced that financing of up to $68 million is available for municipalities to renovate treatment plants in different areas of the country.
The head of the Ministry of Environment and Natural Resources explained that the resources will be granted in loans to the municipalities, which will have to present studies that determine the type of investment to be made and the amount required."...It may be for a period longer than its management whenever it can be justified how that cost is going to be replaced."
While the government's promised trust funds remain inaccessible, producers are negotiating credit lines in China and India in order to finance the renewal of coffee plantations.
Ricardo Arenas, president of the National Coffee Association (Anacafé), explained to Elperiodico.com.gt that"... in light of the difficulties in obtaining the support of the Government, they are knocking on doors in different places. This is because 'there are countries that have a lot of money which is not providing them with a return' and therefore would be willing to give it to some bank in the system under the right conditions."
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