Tuesday, 10 January 2023 17:19

CABEI approved US$996 million to El Salvador for strategic projects in 2022

Written by Evelyn Alas

Contributing to the sustainable development of El Salvador by providing financial support for priority initiatives to improve the quality of life of the population, the Central American Bank for Economic Integration (CABEI) approved a total of US$996 million to its founding member country in 2022 for the development of public sector projects, intermediating resources to the financial sector in support of strategic sectors.

The approvals granted include emblematic projects with high national impact, such as the construction of the Viaduct and Highway Expansion (Los Chorros Section), which will modernize and strengthen the road infrastructure in the western part of the country, and for which the multilateral approved additional resources of US$166 million for a total financing of US$410 million.

VMT on Twitter: "El Ministro de Obras Públicas y de Transporte,  @RomeoHerrera1 anunció ayer que ya se adjudicó la licitación del viaducto  que se construirá en carretera Los Chorros, y que pondrá

In addition, a US$220 million approval has supported the Government of El Salvador's measures to reduce the impact of rising fuel prices, as well as a US$350 million Operación de Políticas de Desarrollo (OPD) to promote balanced economic growth, poverty reduction, sustainable development, and the fight against climate change.

Another highlight of the support provided is that, of the total approved, US$260 million was channeled through the Management of the Non-Sovereign Public and Private Sector. The first was a Global Credit Line for Banco Cuscatlán de El Salvador for US$60 million, the second a Revolving Credit Line for the Comisión Ejecutiva Hidroeléctrica del Río Lempa (CEL) for US$100 million and, finally, a Revolving Credit Line for the Fondo de Conservación Vial (FOVIAL) for US$100 million.

Líneas de créditos | Bancofit

In addition to these efforts, there is also a non-reimbursable technical cooperation project called "Modernization of the Guluchapa Water Supply System in San Salvador through photovoltaic generation and Integrated Water Resources Management", for US$600,000 from the Korea-CABEI Single Donor Trust Fund (KTF), to carry out a comprehensive assessment to modernize the water supply system and infrastructure at the Guluchapa plant.

Préstamo personal y crédito al consumo - Cliente Bancario, Banco de España

In this way, CABEI, as the most relevant financial institution in the region, will continue to promote projects and initiatives that contribute to the integral development of El Salvador and the well-being of salvadorans.


Translated by: A.M