Bukele meets with senior leadership of two regional banks

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By LatAm Reports Editor

The president had meetings with the executive president of the CAF (Latin America and the Caribbean Development Bank) and with the executive president of the BCIE.

After the government has gone out to seek a million-dollar international loan, licensed President Nayib Bukele has met with senior officials from two regional banks that have been the country’s largest financiers to date.

Bukele received on April 24 a team from the CAF (Andean Development Corporation), to which belongs the Latin American and Caribbean Development Bank, led by the executive president, Sergio Díaz-Granados.

The financial institution reported on its social networks that during the meeting they reviewed the portfolio of projects that are underway in this country and new opportunities for cooperation were reviewed.

The government of El Salvador has signed at least seven credits with CAF amounting to $595 million, after being ratified by the Legislative Assembly.

And on April 15, he received legislative authorization to subscribe to a new loan with that entity for $75 million, which would add $670 million since 2022.

As part of the visit, the operation Programme of Support for Low Urban Mobility in Emissions and non-refundable technical cooperation with the National Administration of Aqueducts and Sewers (ANDA) was signed to continue to promote water and sanitation coverage and efficiency, CAF added, through X.

This regional bank highlighted that since El Salvador joined CAF in 2022 as a full member, the institution has provided timely funding and technical assistance in strategic sectors such as health, education, aeronautics, water and sanitation, public space recovery and transport infrastructure that is resilient to climate change.

Also the BCIE

Also on April 23, the executive president of the BCIE (Central American Bank for Economic Integration), Gisela Sánchez, led a delegation that met with Bukele.

According to information released by the financial institution, during the meeting, the bank’s commitment to continue supporting the transformations taking place in the country was reaffirmed and the recent approval of the increase to the FOVIAL credit line for $150 million was highlighted.

Alejandro Zelaya, former Minister of Finance and now director for El Salvador before the BCIE, was also present at the meeting.

The country owes this regional bank $2.618 million, until December 2023, according to Treasury data.
Sánchez has said that of the loans granted by the agency, El Salvador concentrates a little more than 25 percent, more than the rest of the countries of the region, so he made it clear that they would diversify the portfolio for the rest of the partners.