El Salvador will finance a program to strengthen and modernize its Legislative Assembly with a $5 million loan approved by the Inter-American Development Bank (IDB).
The program will work to improve the effectiveness of the legislative branch by improving legislative functions with technical assistance and new computer systems.
These measures are intended to increase the capacity of the Legislative Assembly to analyze, discuss and carry out training related to the Draft National Budget Act, as well as to monitor the results achieved by different sectors of the executive branch. The program will also provide technical advice, training and computer equipment to the Treasury and the Government’s Special Budget Committee and other relevant units.
The program will seek to make the Legislative Assembly’s work more accessible to citizens by creating more effective channels for citizen participation in the legislative process and greater transparency in the exercise of legislative functions.
Finally, the program will strengthen the implementation of information systems and technological tools to improve the legislative, administrative, financial and human resource functions of the Legislative Assembly.
The IDB loan is for a 25-year term, with a 4 year grace period and an interest rate based on LIBOR. Local counterpart funds total $1 million.