Tuesday, 09 April 2024 03:15

Finance Committee approves two loans with IDB and IBRD

Written by Karla Gutiérrez

The Treasury Commission approved, in its working session, two rulings that seek to support the country's development. The first one contemplates an amendment to the 2024 Budget Law to manage resources for the Ministry of Public Works and Transportation, allocating US$5,500,000,000.

This money will be used to improve the added value of plazas, green areas, sports facilities and the waiting and reception hall for passengers at the Aeropuerto Internacional de El Salvador “San Óscar Arnulfo Romero y Galdámez”, with the purpose of increasing domestic and foreign tourism.

The second, on the subscription of a loan with the Inter-American Development Bank (IDB) to finance the "Trade Facilitation and Port Operation Modernization Program in El Salvador".

This project aims to accelerate El Salvador's international insertion in world trade to reduce costs and facilitate trade through port operation efficiency, which is why the Executive Branch is seeking financial support from the IDB.

Another with the Banco Internacional de Reconstrucción y Fomento (BIRF), also for US$150 million, to finance the "Project Promoting Employment Opportunities and Skills Development in El Salvador".

Finally, the third loan agreement will be with the Inter-American Development Bank (IDB), for up to $100 million, to finance the "Program for Responsible Social Protection from Shocks in El Salvador.

 

Translated by: A.M