El Salvador
News

Govt seeks approval of US$322mn international loans

Bnamericas Published: Friday, October 06, 2006
El Salvador's government has requested that the country's legislative assembly approve credits from international financing bodies totaling US$322mn, local paper El Diario de Hoy reported. The funds will cover road infrastructure works, social projects and education. Roadworks will be carried out by the public works ministry (MOP) and will include construction of 1,080km of routes in a total 43 districts, public works minister David Gutiérrez said. "By improving road connectivity there will be greater local development and benefits will increase in areas such as education, health, retail and agriculture. There will be a greater chance of acquiring basic services," the minister said. The loans will be provided by the Inter-American Development Bank, the World Bank, and the Central American Bank for Economic Integration, and must be approved between April and June of 2007. The government requested that legislators approve the loans in order to avoid losing them. The credit proposals were sent to the legislative assembly a year ago and have yet to be passed. The funds will include US$78mn for the expansion of basic services, such as water, electricity and health units in 32 national districts. Government officials will hold meetings with legislators at the legislative assembly starting next week to discuss the projects that need funding and that would be financed through these loans.

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