Saturday, 10 July 2021 02:05

Treasury signs US$115 million agreement with CABEI for sports infrastructure improvements

Written by Alondra Gutiérrez

The signing of the agreement is to finance a historic investment project in national sports, which will renovate and equip sports venues and infrastructure used by athletes.

The agreement was signed by the Minister of Finance, Alejandro Zelaya and the Executive President of the Central American Bank for Economic Integration (CABEI), Dante Mossi, with the presence of the General Manager of the Instituto Nacional de los Deportes de El Salvador (INDES), Roberto Calderón and CABEI Director for El Salvador, Luis Rodríguez.

The financial operation with the Central American Bank for Economic Integration (CABEI) is for US$115.2 million, which will be used to improve the infrastructure of different sports venues in the country.

"The operation is agreed at an indicative rate of 2.62%, that is, an extremely competitive rate, for a 20-year term, with a four-year grace period. We believe this is a great bet for sports, we have sports venues that have not been improved in 50 years, most of our sports venues date back to the 60's or 70's", said the minister of Finance.

The funds will be channeled through the Programa de Construcción de Infraestructura y Rescate de Escenarios Deportivos a Nivel Nacional (PRODEPORTE), which seeks to optimize, modernize and equip sports facilities throughout the country, including some that will host the competitions of the XXIV Juegos Centroamericanos y del Caribe San Salvador 2023.

Among the seven of these sports venues are: Gimnasio Nacional "José Adolfo Pineda", Palacio de los Deportes, Estadio Jorge "Mágico" González, Estadio Las Delicias, Parque de Pelota "Saturnino Bengoa", Gimnasio Municipal "Adolfo Pineda" and Polideportivo de Ciudad Merliot, will be equipped with advanced technologies in screens, audio and voice, which will allow a more vivid experience for spectators.

"With this funding, we will continue working in the prevention of violence and in the economic reactivation of our country", said the minister of Finance.