A. M. El Salvador’s Legislative Assembly approved with 57 votes the subscription of a loan with the Central American Bank for Economic Integration (CABEI) for US$113,900,000. The funds will finance the “Surf City Phase 1 Program” in La Libertad, with the objective of strengthening tourism infrastructure.
COURTESY
The government seeks to improve road connectivity to facilitate the mobility of goods and people. With this, it is expected to attract private and foreign investment, generating more economic opportunities for the country.
Congressman Christian Guevara highlighted CABEI’s confidence in El Salvador and assured that the funds will be used for infrastructure. “We will always seek support to continue developing the nation and benefiting salvadorans”, he said.
The loan will have a term of up to 20 years, including a four-year grace period. The works include the expansion of highways such as El Litoral and improvements in tourist sites such as the La Libertad pier.
Congressman Walter Alemán emphasized that these initiatives show the world the change in El Salvador, while Congresswoman Sharon Salazar highlighted the impact of tourism on the economy thanks to the advances in security.
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