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IDB approves $ 15.4 million for sanitation

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The Inter-American Development Bank (IDB) has authorized the disbursement of $ 15.4 million to the Government of El Salvador to deal with the covid-19 emergency, the agency reported in a statement. The funds must be directed to the purchase of medical and sanitary equipment such as artificial respirators, hospital beds, masks, biosafety suits and monitors, among others.

 

This amount may be expanded up to $ 20 million. In addition, the agency pointed out that it is working on two other loans: one of $ 250 million, for an emergency program for macroeconomic sustainability, and another also of $ 250 million, to strengthen policies and fiscal management to deal with the health crisis and the economic crisis. "Both operations are budget support and will contribute to providing liquidity to the country to face the crisis," said the IDB.

 

El Salvador has been under a month of general quarantine. The finance minister argues that the drop in tax revenue could exceed $ 1 billion this year.

 

The agency has made available to Central America and the Dominican Republic an additional $ 1,700 million to the $ 1,100 million that were originally planned for 2020. The response to the emergency focuses on four axes: immediate public health response, assistance to vulnerable populations, aid to companies and their employees to minimize economic losses, and support for fiscal policies.

 

The entity also explained that governments can request to redirect resources from projects that are already underway. He said he has increased the availability of funds and adjusted his lending instruments since the end of January to streamline his support to countries.

 

Apart from the IDB, the International Monetary Fund (IMF) approved a $ 389 million loan to the country, with a series of recommendations for the sustainability of public finances in the medium term. The World Bank also approved $ 20 million for the purchase of medical equipment, personal protective equipment, and laboratory supplies.

Actualizado 04/28/2020
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