CABEI approves US$109.0 million for citizen security in El Salvador
The financing is aimed at modernizing the technology and infrastructure of citizen security institutions in El Salvador.
Tegucigalpa, October 30, 2019. – Today, the Central American Bank for Economic Integration (CABEI) approved a loan to the Republic of El Salvador for an amount of up to US$109.0 million for the Program denominated, Modernization of Citizen Security Institutions in the framework of financing for the Territorial Control Plan - Phase III."
The program aims to modernize and strengthen the National Civil Police and National Defense Ministry in order to provide citizen security services in the most vulnerable territories of El Salvador.
In this regard, CABEI Executive President, Dr. Dante Mossi, assured that the Bank's financial solutions contribute to strengthening the security of the its member countries as a necessary condition for economic growth, attracting investment and generating employment.
The total program investment represents US$109.0 million, which will be contributed by CABEI. The terms of this financing include a 20-year term, a 3-year grace period and an indicative annual interest rate of 4.66% percent.