The Development Bank of Latin America (CAF), will invest $150 million to digitize education in El Salvador

The projects promoted by the Development Bank of Latin America (CAF) in the countries where it operates respond to the strategic development needs posed by the region, as explained by the representative of the multilateral organization in the country, Oscar Avalle, during a television interview .

In this sense, the executive, who was recently presented as CAF’s representative in the country, indicated that projects in infrastructure, health, and education will be developed with El Salvador.

On this last point, he indicated that the Latin American bank would disburse $150 million for a project to digitize Salvadoran education.

«If we want to be part of the fourth industrial revolution, we have to improve access to connectivity, which is why the first operation that we are working on with El Salvador is on the issue of digital education for $150 million, supporting the work that is already being done,» Valle reported.

«These funds will be operated in support of the entire education program that the government and the Office of the First Lady, Gabriela de Bukele, have at this time,» he added.

He also said that this financing is in the last stage of preparation and is expected to be ready before the end of this year and to begin execution in January 2023. The executive’s educational approach includes teacher training, technology, innovation, and reducing the digital divide for learning, among other axes.

Four objectives

Specifically, CAF’s intervention in the country begins with four financing projects that are infrastructure, COVID-19, and customs and trade facilitation.

The second projected operation is for infrastructure resilient to climate change, for an amount of $75 million, and will seek the preparation of the country to minimize the impact of phenomena on mobility and planning that allows avoiding crisis situations.

Regarding the issue of COVID-19, the Latin American bank is working on the design of a line of credit that minimizes the financial impact that the country will have to make to respond to the onslaught of the pandemic that began in 2020.

Customs integration and trade facilitation are also part of the projects that the CAF will support, as they are key to economic development. The total cost of the four initial projects is around $385 million.