With approvals of US$1,336 million, CABEI finances infrastructure and economic reactivation projects in El Salvador

With approvals of US$1,336 million, CABEI finances infrastructure and economic reactivation projects in El Salvador

The Central American Bank for Economic Integration (CABEI), reaffirms its commitment to El Salvador to continue working hand in hand with the authorities for the development of human development projects, improvement of public infrastructure, and economic recovery with the approval of initiatives for development in a global amount of up to US$1,335.8 million.

On this occasion, CABEI highlights 8 projects as part of the portfolio in execution or pending formalization in the Republic of El Salvador, whose amount of approval amounts to US$880.74 million.

Of the projects currently underway, the following stand out: The development of the new Program for Strengthening the Prison System, Expansion and Construction of Roads and Bridges, Project for the Rehabilitation of the Water Treatment Plant in Las Pavas, Construction, and Equipment of a Building for the Offices of Deputies and Parliamentary Groups of the Legislative Assembly, as well as Construction, Equipment, and Modernization of the Central Offices of the Attorney General of the Republic of El Salvador.

On the other hand, loans are being formalized with the Government of El Salvador for the Development Policy Operation (OPD) to finance support for public policy actions for the economic reactivation of the country, attention to vulnerable groups, and employment, in addition to the project to finance measures implemented by the COVID-19 emergency. It is estimated that both programs will benefit approximately 1.2 million vulnerable families, 20,000 MIPYMES and 150,000 workers.

Likewise, the CA01W Viaduct Construction and Road Expansion Project (Los Chorros Section) is in the process of being signed, which includes US$80.5 million from the Republic of South Korea, as a new extra-regional partner of CABEI.

“In the CABEI we reiterate our commitment with the Salvadoran people mainly in these moments of crisis in which the support of the multilateral banking through opportune credits becomes of crucial importance for the region,” indicated the Executive President of the CABEI, Dr. Dante Mossi.

CABEI will continue working to improve the quality of life of Central Americans by supporting programs and projects that encourage human development and social infrastructure, modernizing the institutionalism of the nations in the region.

Original source: CABEI