Wednesday, 20 July 2022 21:13

Corea Eximbank is negotiating a loan with El Salvador at a rate of 0.05%.

Written by Evelyn Alas

The commissioner of Strategic Projects of the Presidency, Cristian Flores, said this morning in an interview that they have held a series of meetings where they are negotiating a loan with an interest rate of 0.05%, for the expansion of the Port of Acajutla.

According to the official, if this loan is obtained, it will have a term of 10 years, with an absolute grace period of 5 years and from the sixth year to the tenth, it will only pay interest.

In this regard, the official said that on july 13 this meeting was held with Corea Eximbank, the President of the Comisión Ejecutiva Portuaria Autónoma (CEPA), Federico Anliker, the Minister of Obras Públicas (MOP), Romeo Rodriguez and the Director of the Central American Bank for Economic Integration (CABEI), Luis Rodriguez.

Flores assures that Eximbank has reiterated its interest in financing projects such as the Morazán Viaduct, public infrastructure, the expansion of the port of Acajutla and the construction of the Pacific Port; it has also presented models to create alliances with private companies, which can generate financing via Corea Eximbank, and thus be able to contribute to the country.

This is important to highlight because in recent days interest rates have been high and the commissioner said that the opportunities offered to El Salvador must be taken advantage of.

For the commissioner the interest and support from investors is very important because this also helps tourism to increase, hoping that this item can grow by 29% in august.

Cristian Flores, added that DOHWA Engineering Company Limited is a privately owned engineering and construction company in South Korea, which is interested in the execution of the Francisco Morazán Viaduct, they are interested in the plan to invest in the port of Acajutla in the expansion and also in the construction of the Pacific airport.

The official assures that the next investments in hotel projects in the east of the country could generate more than US$700 million and 4,700 jobs per year.

He also said that in the east there is much to be done and all the investments have been local, but not a public investment that involves connectivity.