El Salvador works every day to increase the generation of renewable energies. Proof of this is that, to date, 85% of the electricity produced in the country is based on renewables, with geothermal being the one that injects the most. Seguir leyendo LaGeo will be a center of excellence to train different countries in geothermal energy
Attracted by the waves, participants of the 2022 Surf City El Salvador ISA World Junior Surfing Championship continue to arrive in the country with anticipation to train and prepare for the most competitive junior event in the world to be held from May 27 to June 5. Seguir leyendo El Salvador Is hosting teams from around the world, participants of the 2022 Surf City El Salvador ISA World Junior Surfing Championship
The Chancellor Alexandra Hill Tinoco, participates in the International Migration Review forum, during the General Debate at the United Nations, which is taking place from May 17 to 20, 2022.
In her speech, the Salvadoran diplomat acknowledges that the Global Compact for Migration represents a historic step to address the current risks and challenges of regional irregular migration from a shared responsibility approach.
Seguir leyendo El Salvador participates in the first International Migration Review Forum
Due to the 11 measures against world inflation, implemented by the government of President Nayib Bukele, El Salvador has the lowest inflation rate in the region. Seguir leyendo Inflation in El Salvador fell from 6.7% in March to 6.55% in April
Family remittances received between January and April 2022 totaled $2,444.1 million, registering a growth of 4.2%, which translates to $99.4 million more than in the same period of the previous year, said the Central Reserve Bank (BCR). Seguir leyendo Salvadorans abroad sent $2,444.1 million until April
El Salvador accumulated $2,476.1 million in exports in April of this year, surpassing the same period in 2021 by $328.1 million, which represented a growth rate of 15.3%, reported the Central Reserve Bank (BCR).
Non-traditional goods represented 74.7% of total exports ($1,848.6 million), while traditional goods contributed 6% ($149.7 million) and maquila 19.3% ($477.8 million). Seguir leyendo Exports from El Salvador broke a record and grew 15.3% in April
The government of President Nayib Bukele generates all the conditions to guarantee legal security and economic stability, as well as development in the country.
In this context, in El Salvador, the event «Digital Financial Services and Financing of SMEs» is held, which hosts 44 countries attached to the Alliance for Financial Inclusion (AFI, for its acronym in English), which will discuss for four thematic days on financial inclusion, digital economy, bankarization, as well as bitcoin in El Salvador, and other related topics.
Seguir leyendo El Salvador was chosen as the host country to address global financial inclusion issues
The work carried out by the government institutions involved in the National Early Childhood Policy, led by the First Lady of the Republic, Gabriela de Bukele, is being recognized worldwide by organizations such as the United Nations Organization (UN) through the National Strategy for Sustainable Food Systems. Seguir leyendo Worldwide recognition of the work in favor of children in El Salvador led by the First Lady Gabriela de Bukele
Karina Arrué became the first Salvadoran to reach the highest peak on planet Earth, Mount Everest, located in the Himalayas on the border of China and Nepal. Seguir leyendo Alfa Karina Arrué becomes the first Salvadoran to conquer Everest
The European Investment Bank highlights the commitment of the Government of El Salvador to sustainable projects.
The Salvadoran government shows a strong interest and commitment to promoting sustainable projects, said José Manuel Otero, head of operations for Central America of the European Investment Bank (EIB), within the framework of the first Investment Forum on digital transformation, green transition in renewable energies and urban transport, organized by the Embassy of the European Union (EU) in the country.
According to Otero, the EIB, considered the largest multilateral lender and borrower in the world, focuses its financing and technical assistance on green agenda projects such as energy efficiency, renewable energy, water and sanitation, sustainable transport and agriculture. In this sense, in 2021, an initiative of this type was approved in the country by the Development Bank of El Salvador (Bandesal), the first for the nation by the European organization.
The loan contract with Bandesal was for $40 million, with two aspects: support for micro, small, and medium-sized enterprises (MSMEs) affected by COVID-19, and financing for companies that promote energy efficiency and renewable energy projects.
«Bandesal is proving to be a very solid partner, with high and exacting standards. That is what we are looking for, that the requirements that we ask for from the technical, social, and environmental point of view can be met» — said the bank executive in relation to the performance of the investment.
To date, more than 25% of the total disbursed in this line, equivalent to $10.4 million, in which there has been strong participation in the area of support for MSMEs affected by the pandemic.
«I think we have established a very strong cooperation between both institutions (Bandesal and the EIB) and a commitment to make this go well, and that it is only the first of several,» he stressed.
The good performance of the first bet opens the door for more financing in the country, both with Bandesal and other government actors, according to Otero. Even within the framework of the forum, the delegate has managed to meet with several ministers and claims to have identified many investment opportunities in fields such as sustainable mobility, promotion of renewable energies, energy efficiency, and water and sanitation projects.
On the other hand, he pointed out that, despite the fact that the EIB has had a presence in the region for several decades, no financing with the country had been approved until last year because the appropriate bet had not been found, nor was there interest in receiving funds from previous administrations.
According to the representative, in previous years there were approaches, but to access their funds there must be a clear commitment because their standards are demanding, an element that he did not perceive.
«Now we have had that commitment, and before it did not happen. Work has been done here and it is a clear example of commitment, both with Bandesal and with the Ministry of Finance, of strong cooperation» — he pointed out. Seguir leyendo The European Investment Bank highlights the commitment of the Government of El Salvador to sustainable projects