CABEI approves US$100 million to strengthen El Salvador's Lempa River Hydroelectric Executive Commission (CEL)
The resources will be used as working capital to promote the generation of electricity through the sustainable use of the country's water resources.
Buenos Aires, November 1ts 2022.- In order to strengthen the operations of El Salvador’s Lempa River Hydroelectric Executive Commission (CEL in Spanish), the Central American Bank for Economic Integration (CABEI) approved US$100 million to support the public entity with working capital that will enable it to guarantee the sustainable generation of electricity.
This operation will have an impact on the effective execution of CEL's electric power generation operations, which represent 32.30% of electric power generation and 48.70% of renewable generation nationwide.
"This operation is of utmost importance for CABEI, since we are contributing to guaranteeing continuity in the generation of electricity through the use of natural resources in El Salvador and at the same time contributing to the competitive development of the country for the benefit of the Salvadoran population," said CABEI Executive President, Dr. Dante Mossi.
The initiative is framed within the Multilateral's Institutional Strategy, specifically in the strategic axis of Sustainable Competitiveness, which seeks to intervene in the strengthening of the economic, social and institutional factors that determine regional competitiveness, and in the area of focusing on energy.