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The Finance and Special Budget Committee issued a favorable opinion to modify the loan agreement for up to $84 million signed with the Inter-American Development Bank (IDB). The objective is to adjust the areas of intervention and redistribute financial resources according to the country’s strategic priorities in foreign trade, customs infrastructure, and investment facilitation.
The modification corresponds to Agreement No. 5851/OC-ES, originally related to the Trade Facilitation and Port Operations Modernization Program in El Salvador, which was authorized by the Legislative Assembly on april 9, 2024, and ratified on may 22 of the same year.
As presented to the legislators, the Executive Branch identified the need to reorient the scope of the program to comprehensively strengthen the operation of the country’s customs offices and border control points.
On april 29, the Ministry of Finance and the Inter-American Development Bank (IDB) officially signed the contract amendment to optimize program implementation and align it with new national priorities related to logistics, trade, and investment.
Marlon Herrera, director of Investment and Public Credit at the Ministry of Finance, explained that one of the main changes will be the project’s name, which will now be called the “Trade and Investment Facilitation Program in El Salvador”.
He also noted that the program will incorporate new actions focused on strengthening the physical infrastructure of customs facilities and modernizing strategic border controls.
Among the areas to be addressed are the El Poy border crossing and the Integrated Control Center located in San Bartolo.
According to Herrera, new technology for merchandise control will also be implemented, which will advance the digitization and simplification of foreign trade processes.
In addition, the program includes the creation of a Foreign Trade Portal, along with the acquisition of computer equipment, technological strengthening and modernization of the equipment used in customs operations.
Authorities believe these measures will help reduce logistics times and costs, facilitate international trade, and improve the country’s competitiveness.
Initially, the program was implemented by the Ministry of Economy in coordination with the Comisión Ejecutiva Portuaria Autónoma, as its main focus was on port modernization.
However, with the proposed modification, the General Directorate of Customs will assume a more significant role in the program’s implementation, working alongside the Ministry of Economy to strengthen customs and border control operations.
The favorable opinion will soon be submitted to the full legislature for the representatives to decide whether to officially approve the modifications to the loan agreement.
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