CABEI Approves US$115.2 Million to Support El Salvador's Sports Infrastructure
The resources will be destined to the Infrastructure Construction and Rescue of Sports Scenes Program at a National Level (PRODEPORTE).
San Salvador, September 28, 2020.- The Central American Bank for Economic Integration (CABEI), approved a financing of US$115.2 million to the Republic of El Salvador with the objective of optimizing and modernizing 25 sports venues at national level.
The resources will be destined to the remodeling, construction, rehabilitation, and furnishing of the sports venues, thus supporting and stimulating the individual and collective practice of sports for the prevention of violence, the increase of health, the professionalization of the athletes, and the recreation of the inhabitants of the benefited areas.
These sports facilities at the end of their modernization will have a high level that will allow the development of local or international events such as the XII Central American Sports Games, Santa Tecla 2021.
In relation to this initiative, CABEI's Executive President, Dr. Dante Mossi, said "we are pleased that our member countries are identifying actions that also promote human development and social inclusion. With investments of this type we are forging discipline, health and education at another level."
This project is estimated to benefit 110,190 athletes who currently use the sports facilities, as well as foreign athletes who participate in competitions and new users. Likewise, the population benefiting from the area of influence of the different sports venues would be approximately 1,728,824 Salvadorans. The generation of temporary direct employment would be 4,050.
For his part, the ad honorem president of the National Sports Institute of El Salvador, Yamil Bukele, recalled that the construction and improvement of the country's sports infrastructure is part of the 2019-2039 Sports and Recreational Development Plan of El Salvador. "Since 2002 there has been practically no investment in this area. Having ideal venues for sports activity is a way to dignify our athletes, our population," the Salvadoran official stressed.
CABEI reiterates its strong support to the country, which is a founding member since 1960, being the support of multilateral banking through timely credits of great importance for the region. The conditions of this financing will have a term of 20 years including 4 years of grace period and an indicative 2.79% annual interest rate.