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The Ministry of Finance is set to receive US$464,470 from an Inter-American Development Bank (IDB) loan to fund four projects focused on modernizing border services, facilitating foreign trade, and attracting investment to El Salvador. The Finance and Special Budget Committee has issued a favorable opinion on incorporating these resources into the institution; the allocation must now complete the formal legislative process.
Delia Reyes, Deputy Director General of Public Investment and Credit at the Ministry of Finance, explained to the lawmakers that these funds are part of the Trade and Investment Facilitation Program in El Salvador. The initiatives will be executed by the Ministry of Finance, through the General Directorate of Customs, with the participation of the Ministry of Foreign Affairs and coordination by the Ministry of Economy.
The largest portion of the funds, US$250,000, is earmarked for the expansion and modernization of the El Poy border crossing, located in the Citalá district of Chalatenango. This funding will allow for the acquisition of a property adjacent to the existing facilities, as well as the coverage of related costs, with the goal of providing more space to improve border operations and services.
The expansion aims to strengthen both the physical and technological infrastructure at El Poy. According to Reyes, these improvements will help streamline customs procedures and the clearance of goods, while also enhancing the oversight, control, and monitoring of cargo entering and leaving the country. These changes are part of broader trade facilitation efforts, as more efficient procedures can help reduce delays for traders and transport operators.
An additional US$10,500 will be allocated to the development and implementation of El Salvador’s Foreign Trade Portal. This web-based platform will centralize strategic information related to international commercial operations. To put it into operation, the funds would be used for the acquisition and installation of the necessary technological equipment, according to the explanation provided by the Ministry of Finance.
Additionally, US$102,870 would be allocated to the Program for the Modernization and Strengthening of Special Regimes and Investments. This initiative seeks to improve business conditions by modernizing customs procedures and services related to special regimes, as well as by facilitating investments. The budget would also cover promotional activities, events, and missions aimed at publicizing the benefits of these programs and attracting new capital, in coordination with the Ministry of Economy.
The remaining US$101,100 would fund the operations of the executing unit responsible for coordinating the planning and development of the four projects. This allocation would cover staff recruitment, the purchase of equipment, and the operating expenses necessary to launch the activities planned under the program.
During the discussion, Deputy Caleb Navarro noted that the modernization of border crossings can improve conditions for tourists and traders by providing adequate facilities and more efficient, secure processes. He also argued that these investments help improve the image of El Salvador’s borders. In total, the US$464,470 is intended to support border infrastructure, facilitate access to commercial information, and promote investment, though the actual outcomes will depend on how the projects are executed and the specific improvements that are ultimately implemented.
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