IDB Approves $50 Million Program to Strengthen Economic Statistics in El Salvador

WASHINGTON – The Board of Executive Directors of the Inter-American Development Bank (IDB) approved a $50 million loan to support El Salvador's Economic Statistics Strengthening Program, an initiative that will improve the quality of official data for decision-making. This program will be executed by the Central Reserve Bank of El Salvador (BCR).  

The program's overall objective is to increase the use of official economic information for decision-making by improving the relevance, timeliness, reliability, and accessibility of statistics and the capabilities of the institutions responsible for producing them. 

The operation will finance the implementation of a new Economic Census, the modernization of statistical systems, and the adoption of digital technologies for data collection, management, analysis, and dissemination.  

The operation introduces several innovations, including the use of digital technologies throughout the census cycle and the inclusion of information on the informal economy, a sector that plays a significant role in employment and economic activity in El Salvador. By generating detailed information on both formal and informal productive activities, the program is expected to provide valuable lessons that may be replicated elsewhere in Latin America and the Caribbean.  

"Reliable, timely, and accessible economic information is essential for governments, businesses, and citizens to make better decisions. This program will help El Salvador strengthen its statistical system, modernize the production of economic data, and generate the information needed to support investment, productivity, and sustainable economic development," said Ezequiel Cambiasso, IDB Group Representative in El Salvador.  

The program builds on the IDB's long-standing support for strengthening El Salvador's statistical system, including support for the 2024 Population and Housing Census and other census modernization efforts. Through this operation, the IDB will continue supporting the country's efforts to modernize data systems, strengthen institutional capacity, and expand access to high-quality economic information.  

The loan will be financed through the IDB's Ordinary Capital under a Specific Investment Loan modality and will have a four-year execution period. The Central Reserve Bank of El Salvador will serve as the executing agency.