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A loan of up to US$16,730,000 was authorized by the deputies of the Legislative Assembly, with 54 votes, for the salvadoran government to sign a financing agreement with the Banco Internacional de Reconstrucción y Fomento (BIRF) and continue the project “Second Additional Financing for the Growing and Learning Together Project: Comprehensive Early Childhood Development in El Salvador”.
The financing will make it possible to expand and consolidate public policies aimed at the comprehensive development of children, especially in the early years of life, a key stage for learning, health, and cognitive and socio-emotional development. The project has contributed to the adaptation of physical learning environments in selected early childhood care centers through improvements in infrastructure, equipment, and spaces designed for early stimulation.
The resources also include strengthening institutional capacity for managing the education sector by improving administrative processes, training staff, and modernizing systems, with the aim of ensuring more efficient and sustainable implementation of early childhood policies.
According to the approved terms, the loan will have a maturity of up to 25 years, including a grace period of four years and six months, and will be repaid in semi-annual installments. The financial conditions include a reference rate plus a variable margin, an initial commission of 0.25% of the total amount (financed with the same loan), and an annual commitment fee of 0.25% on undisbursed balances.
This is the second additional financing that the government has secured for the implementation of the program. The first was approved on may 18, 2021, by the Legislative Assembly, when a US$250 million loan from the World Bank was authorized to promote the “Growing and Learning Together” project. This new contract seeks to consolidate a long-term strategy to strengthen the national education system and guarantee better development opportunities for Salvadoran children from their earliest years.
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