NEW ORLEANS − Inter-American Development Bank President Enrique V. Iglesias and the technical secretary of the Presidency of El Salvador, Juan José Daboub, today signed documents for a total of $127.6 million in loans to support programs of modernization of the state, strengthening of the financial sector, and reform of the water and sanitation sector.
The signing took placed during the Annual Meeting of the IDB Board of Governors, whose plenary session begins March 27.
Among the operations signed was a loan of $70 million to support structural reforms in public administration and to advance the process of grater private sector participation in providing electricity, telecommunications, and transportation services.
Another loan of $5,044,500 will provide resources to help transform the Court of Accounts into the Office of the Comptroller General of the Republic with an improved management system, an integrated information system, and a stronger auditing system so as to assure citizens that public resources will be used with transparency and efficiency and in compliance with the law.
A third loan of $3,546,000 will help the Legislative Assembly become more efficient, effective and transparent through changes in procedures, administration, and information technology.
Water and sanitation
A loan of $43.7 million will support a program to consolidate reform of the water and sanitation sector. The project will promote the conservation and rational and efficient used of hydraulic resources, as well as create the institutional framework and investment climate, both public and private, to improve the water and sanitation sector.
An IDB grant of $1.5 million support technical assistance for an investment program in physical infrastructure for the rehabilitation and expansion of rural water and sanitation systems.
The project will promote community participation and women’s participation.
Financial sector
A loan of $3,802,000 will support a project to strengthen Salvadorian agencies of financial supervision, contributing to the stability and solvency of the financial sector. The project will strengthen the technical capacity of public institutions and introduce modern management tools.
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