The Central American Bank for Economic Integration approved a line of credit for the country to reinforce its fiscal sustainability and strengthen its macroeconomic stability, in the context of the economic crisis that arose from the outbreak of covid-19.
In this way, Costa Rica becomes the first nation to receive the maximum amount of $250 million per year available for each country under the Development Policy Operations Program (DPO), reported the international organization.
The Central American Bank for Economic Integration approved a line of credit for the country to finance works to expand coverage, energy efficiency and resilience to climate change.
The funds will be used to finance part of the Development Policy Operations Program (OPD) to support the country in implementing the General Law on the Electricity Industry (LGIE).
CABEI granted a loan to Guatemala to finance the construction and equipping of buildings to be used by the Ministry of the Interior, National Police stations, prisons and other projects.
The $300 million will support the "Investment and Modernization Program for the Justice Sector", which will be implemented by the Guatemalan Ministry of Government, reported the Central American Bank for Economic Integration (CABEI).
The IMF approved a loan in favor of the Panamanian government, whose funds will be used to finance health expenses and support the vulnerable population affected by the covid.19
The International Monetary Fund (IMF) approved Panama's request for emergency financial assistance under the Rapid Financing Facility (RFF) of approximately $515 million to meet urgent balance of payments needs arising from the outbreak of the covid-19 pandemic, the international body reported.
The IDB approved a $9.2 million credit for the government to implement a forest management project that will benefit 225 forestry companies.
The funds will be used in climate change adaptation and mitigation programs, through the Sustainable Forest Management project, reported the government of Guatemala.
A CABEI loan will be used to carry out improvements at several educational centers throughout the country and purchase laboratory equipment.
The funds will be used to improve 105 Jr. high schools, basic and pre-basic education centers, equip 294 vocational workshops, 105 computer workshops and 315 natural science laboratories throughout the country.
The IDB loan funds will be part of the investment in equipment to operate the broadband network through a public-private cofinancing model.
The program to be implemented aims to cover and use connectivity, reduce transaction costs for citizens, businesses and public agencies through the development of digital government and encourage the development of the digital economy in the country, informed the Inter-American Development Bank (IDB).
CABEI approved the extension of financing to CONAVI for an amount of up to $90 million, to finance the completion of the northern section of the peripheral ring in the Uruca - Calle Blancos section and the rehabilitation of the bridge over the Virilla River, National Route 32.
The construction will be executed by the National Roads Council (CONAVI). The resources approved for the loan extension will have a 15-year term, including a five-year grace period, according to the international organization.
The IDB will provide a $200 million loan to finance the digital transformation of processes with high demand, such as construction permits from the Municipality of Panama or commercial movements in the Colon Free Zone.
The funds will also be used to encourage private investment, the protection of digital personal data and digital signatures. In addition, reforms will be included to promote follow-up to the National Industrial Competitiveness Program, the promotion of the National Quality System and the Regional Innovation Systems, informed the international organization.
The Latin American Development Bank approved a loan to finance the "Santo Domingo Oriental Aqueduct Expansion Project", aimed at expanding and optimizing the Santo Domingo Norte and Santo Domingo Este aqueduct systems.
The funds will also be used for the preparation of studies for plans and programs in technical, operational, commercial and business aspects, informed the financial institution.
With a loan from CABEI, the Salvadoran government will finance the construction of a viaduct and the extension to six 15-kilometer lanes of the CA01W road, Los Chorros section.
The investment aims to solve the problem of traffic congestion caused during peak hours in this section of the Pan American Highway CA01W, which mobilizes more than 327,000 people and 58,000 vehicles, with a reduction of travel time of approximately 35 minutes, explains a statement from the Central American Bank for Economic Integration (CABEI).
The $286 million credit granted by CABEI to renovate coffee plantations in Guatemala has not yet been approved by local authorities, so resources would only be available in the second half of 2020.
The Central American Bank for Economic Integration approved a loan to the government of Costa Rica to finance part of the project "Fast Passengers Train of the Great Metropolitan Area."
The investment in infrastructure and equipment of the project represents $1.298 million, which is expected to be executed under the modality of Public Private Partnership, with a state contribution of $550 million, which will be provided by the Central American Bank for Economic Integration (CABEI), according to a statement from the financial institution.
The Central American Bank for Economic Integration signed two loans that will be used to finance road works and works to improve water and sanitation systems.
The first is a loan of up to Ch$333,874,540 million to finance the "VIII Road Improvement and Expansion Program". And the second one for $251,470,000 million for the "Program for the Improvement of Potable Water and Sanitation Systems in 7 cities," informed the CABEI.
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