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El Salvador to Receive $150 Million From Development Bank for Education

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El Salvador will receive a $150 million loan from Latin American development bank CAF to strengthen its education system, the lender said in a Wednesday statement.

The board of CAF approved the loan – the country’s first from the bank – which will be used on equipment, training and closing the digital gap in Salvadoran schools, the bank said in a statement.

“We are a strategic ally for the development of countries with comprehensive programs like this,” said CAF Executive President Sergio Diaz-Granados in the statement, adding the coronavirus pandemic had created an “educational emergency” in the country.

El Salvador, which made Bitcoin official tender last year, became a full member of CAF in March in search of expanding its financing sources.

In September, CAF representative to the country Oscar Avalle said in a television interview that the lender was working with the Salvadoran government on obtaining the loan.

The government expects the Central American country’s economy to grow 2.8% in 2022 after rebounding from the impact of the coronavirus pandemic in 2021 with 10.3% growth. (Reuters)

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Cervecería Centroamericana S.A.
Agexport
Grupo Hotelero Islazul
Los Portales
Nestle
INOR
Instituto Hondureño de Turismo
Cubasol
blackanddecker
Centro Nacional de Cirugía de Mínimo Acceso de Cuba
Realidad Turística
Tigo
Walmart
AVA Resorts
Herbalife
Irtra
Servicios Médicos Cubanos
Intecap
Barceló Solymar
MAD-HAV Enjoy Travel Group