The $84 million IDB loan has a five-year disbursement period, a five-year grace period, a 25-year amortization period, and an interest rate based on SOFR. 

The program, approved by the IDB's Board of Executive Directors, seeks to reduce the Port of Acajutla's operating times by optimizing its operational processes and strengthening its infrastructure, equipment, and technological solutions. In addition, it will provide support to the Comisión Ejecutiva Portuaria Autónoma (CEPA) in its corporate governance process, institutional strategy, and key inputs for port reform.

In addition, the project will support the simplification and automation of export and import procedures, with a focus on the internationalization of SMEs.

For trade facilitation, it seeks to develop and modernize technological platforms.

The program also aims to improve the efficiency of customs control through digitalization. It will contribute to its modernization, simplification and automation of processes through technological solutions and systems to facilitate trade and increase revenue collection.

The automation of services provided by the Foreign Trade Single Window will benefit 25,500 users of the Centro de Trámites de Importaciones y Exportaciones (CIEX) including close to 2,000 exporting SMEs. Interventions at the Port of Acajutla will result in optimized services for exporters, importers and carriers.

This program is a central element of El Salvador's National Trade Facilitation Strategy, which will have a profound impact on strengthening the regional integration process.

The program could help increase the country's productivity and export capacity by accelerating its insertion into world trade through cost reduction and improvements in trade facilitation, taking advantage of its potential to expand and diversify its exports by product and destination.

Translated by: A.M