The Development Bank of Latin America approved a line of credit that the government will use to finance the Program to Support the Digital Transformation and Inclusion Strategy.
The Program is aimed at recognizing actions in the development of the framework of public policies and investments for the closing of the digital gap and the digitalization of the public and private sectors, specifically with the production and implementation of standards, plans, internal agreements and investments, informed the Development Bank of Latin America (CAF).
The financial resources that the IMF will lend to the Costa Rican government will be used to mitigate the fiscal crisis, strengthen monetary and financial stability, and boost economic recovery in the context of the pandemic crisis.
On March 1, the Executive Board of the International Monetary Fund (IMF) approved Costa Rica's request for an IMF Extended Fund Facility (EFF).
In addition to the $1,750 million that the government is seeking to obtain through the loan it is negotiating with the IMF, during the four years between 2022 and 2025 the country plans to place $4,000 million in foreign debt bonds.
The Central American Bank for Economic Integration approved a line of credit for the Honduran government to finance the Resilient Housing Reconstruction Program in the country.
The Central American Bank for Economic Integration (CABEI) informed that it is estimated that approximately 29,500 vulnerable families in the departments of Cortés, Atlántida, Yoro and Santa Bárbara will benefit from the rehabilitation, reconstruction or construction of new housing.
The IADB will grant the Salvadoran government a loan for $45 million, which will be used to finance the project called "Strengthening the Climate Resilience of Coffee Forests."
According to the Government, the subscription of the loan with the Inter-American Development Bank (IDB) has the objective of maintaining the ecosystemic services provided by the coffee forest and improving the food security of small producers, informed the Ministry of Finance of El Salvador.
Given the agreement reached by the Alvarado administration and the IMF for Costa Rica to access a $1.75 billion loan, the business sector is calling for a reduction in public spending and for detailed information on the scope of the agreement signed by both parties.
In an attempt to ease the fiscal and economic crisis the country is going through, last year the Alvarado administration began negotiations to access a loan for $1.75 billion to be requested from the International Monetary Fund (IMF).
CABEI approved a line of credit to be used by the Costa Rican Social Security Fund to finance construction and equipment projects for the Monsenor Sanabria Hospital in Puntarenas, the Max Peralta Hospital in Cartago and the William Allen Taylor Hospital in Turrialba.
The "Regional Hospital Infrastructure Strengthening Program" of the Central American Bank for Economic Integration (CABEI), which includes this loan, will finance the design, construction, equipment and maintenance of the three hospitals, which together will have a construction area of more than 200,000 m2 and will house space for more than 1,000 new beds.
The Inter-American Development Bank approved a line of credit that the Panamanian government will use to finance the second Program to Support Reforms in the Energy and Water and Sanitation Sectors.
The program aims to contribute to the sustainability of the energy sector, as well as to the increase in coverage and improvement in the management of drinking water and sanitation services, through a series of policy reforms aimed at strengthening and complementing the regulatory and institutional framework of both sectors, the international organization reported.
The Central American Bank for Economic Integration approved a loan for the Nicaraguan government to continue financing the National Program for Sustainable Electrification and Renewable Energy.
The resources will be used to carry out works of "Rural Electrification by Extension of Networks" and "Normalization of Service in Settlements", which guarantees that through the expansion of electricity coverage by connecting to the electricity distribution network, 35,000 homes in 1,278 rural communities will benefit nationwide, and the normalization of electricity supply to 79,050 homes in 402 urban settlements, reported the Central American Bank for Economic Integration (CABEI).
The Central American Bank for Economic Integration approved a line of credit that the government will use to finance programs in the education, health, housing and road infrastructure sectors.
The loan is aimed at the Multisectoral Program for Economic Reactivation and Social Protection (NIC-Solidaria), which aims to initially support at least 41 projects and programs of public investment, production and social assistance, reported the Central American Bank for Economic Integration (CABEI).
Through a credit line from CABEI, the Costa Rican Institute of Aqueducts and Sewerage will finance the supply project for the Fifth Stage Metropolitan Aqueduct.
The megaproject, declared of public interest by the Government authorities, consists of the construction of 44.3 kilometers of pipelines, of which 8.6 kilometers are tunnels, a new water treatment plant and six storage tanks with a total capacity of 50,000 cubic meters. This infrastructure will allow the capture, treatment and distribution of 2.5 cubic meters per second of drinking water in the Greater Metropolitan Area (GAM) and surrounding areas.
In the context of the economic crisis generated by the covid-19 outbreak, the CABEI approved a line of credit that the Panamanian government will use to finance the general state budget and programs for health protection, education and food security.
The Central American Bank for Economic Integration (CABEI) approved $250 million as part of the Development Policy Operations Program (DPO) to the Republic of Panama to financially support the country's economic recovery, the financial agency reported.
With a line of credit from CABEI, the Nicaraguan government will finance projects focused on the transformation of extensive cattle raising, agriculture and wood exploitation.
The Board of Directors approved the financing proposal for the Bio-CLIMA Project: integrated climate action to reduce deforestation and strengthen resilience in BOSAWÁS and the Rio San Juan biosphere in Nicaragua, for a total amount of $115.7 million, reported the Central American Bank for Economic Integration (CABEI).
The Central American Bank for Economic Integration approved a credit line for the Salvadoran government to reconstruct, remodel and technologically equip 186 schools nationwide.
The schools that will be remodeled are located in the departments with high Multidimensional Poverty Index, at the preschool, primary, secondary and high school levels, highlights a statement from the Central American Bank for Economic Integration (CABEI).
After the UCCAEP in Costa Rica began to negotiate the lifting of the blockades with the self-proclaimed group Rescate Nacional, promoter of the protests, several business chambers distanced themselves from that decision and others have expressed their support.
Given the wave of protests and blockades that have been reported in the country, which arose after it was reported that to access a loan from the International Monetary Fund for $1.75 billion, the governmentplanned to tax financial transactions, raise the tax on the profits of companies and persons, and increase the tax on real estate. The Costa Rican Union of Chambers and Associations of the Private Business Sector (UCCAEP) decided to negotiate the lifting of the blockades.
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