CABEI and El Salvador sign agreement for rural productivity
The US$60 million will improve the agricultural production systems and the wellbeing of almost 400 thousand Salvadoran families.
San Salvador- The Central American Bank for Economic Integration (CABEI) and the government of El Salvador today signed a loan for up to US$60 million. The loan agreement was signed in the city of San Salvador by Salvadoran Finance Minister, Mr. Carlos Enrique Cáceres and CABEI’s Director for El Salvador, Mr. Guillermo Funes Cartagena.
During the acts, Mr. Funes Cartagena explained that CABEI expects this loan to reduce extreme and relative poverty in the rural area by 12%, benefitting approximately 395,000 families dedicated to subsistence and commercial agriculture.
This operation will contribute to a large degree to reactivating and modernizing the agricultural sector. Another important potential achievement of the initiative is that it could reduce by 10% the levels of chronic malnutrition in children under 2 of the project’s beneficiary families.
This operation complies with CABEI’s policies, norms and procedures and falls under the strategic axes of social development and competitiveness.
It is also in line with the strategic objectives of investment in productive sectors and income generation in the focus area of agriculture and rural development.
CABEI’s 2010-2014 Institutional Strategy, “Competitiveness with Integration and Social Development,” targets institutional efforts at fostering the development of the Central American nations and improving their citizens’ quality of life.
