Legislature prepares to weigh bill creating development bank

Thursday, March 10, 2011

Legislators in El Salvador are about to receive a bill that proposes creating a government development bank with initial capital of US$202mn.

The bank, which would be known as the Banco de Desarrollo de El Salvador (BDES), would be allowed to leverage its capital up to eight times, according to a report in local newspaper La Prensa Gráfica.

The bank would be restricted to financing large public and private sector projects with minimum financing needs of US$4mn, with the maximum single-project loan standing at US$20mn.

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