El Salvador: Finance Commission approves three new loans totaling $226 million

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By LatAm Reports Editor

The Commission ruled on two loans with the Andean Corporation and one with the Saudi Fund. For everything, they add up to $226 million.

Yesterday, the Legislative Assembly’s finance commission ruled in favor of three initiatives by the Ministry of Finance to approve three new loans amounting to $226 million.

The three loans to be contracted will be made with the Saudi Development Fund, for $83 million; and two with the Andean Development Corporation (CAF), for $68 million and $75 million. Among the three loans, they add up to $226 million of new debt.

The $68 million loan with CAF will serve to finance the “Programme for the Strengthening of Public Spaces for the Sustainability of Security and Recovery of Social Tissue in El Salvador,” which includes “strengthening public spaces in strategic areas of the country.”

The other loan with CAF, for $75 million, will serve for the “Programme of Environmental Improvement, Drinking Water and Sanitation in the Upper Basin of the Lempa River (Trifinio) and Puerto de La Libertad, in El Salvador,” aimed at the sustainability of the water resource.

Finally, the $83 million loan will be allocated to the installation of a Electric Generation Plant with Biogas in the Acelhuate River.

This article has been translated from the original which first appeared in La Prensa Grafica