El Salvador: Measures to Boost Construction Sector

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Emphasis will be given to micro and small enterprises so that they can access credit for their projects.

"Angel Diaz, vice president of the Salvadoran Chamber of Construction, CASALCO, explained that until now small companies have had trouble accessing credit from international banks due to conditions and requirements needed in order to approve loans," stated the article in Lapagina.com.sv.

Source: Lapagina.com.sv

More on this topic

SME Program Would Invest $400 Million

September 2009

The Government of El Salvador will reinforce financial and technical assistance for small and micro companies.

The search for financing sources is underway, told Mario Cerna, Commerce vice minister.

"He also said ... he intends to have ready, before the end of the year, a law project for micro and small enterprises. This project will provide mechanisms for real access to credit..."

$17 Million for Economic Development in El Salvador

February 2009

Businesses which operate in the northern zone of the country can access lines of credit in order to invest in or expand their operations.

Daniel Choto writes in an article on Elsalvador.com: "Starting now, businesses interested in investing in or expanding their projects in the northern zone of the country have a new ally, the Northern Development Trust Fund (Fidenorte, the Spanish acronym) due to $17 million allocated yesterday by Fomilenio and Banco Multisectorial de Inversiones (BMI).

Salvadoran Construction Chamber requests $375 million

November 2008

The group proposes that housing and public works be reactivated in order to face the crisis and revive the economy.

Yesterday, the Salvadoran Construction Chamber (Casalco) proposed a preliminary plan (Law of Preferential Interest Rates), which would require $375 million for housing which would be financed by commercial and state banks.

Salvadoran Developers Look Abroad for Loans

July 2010

Faced with restrictions on local credit availability, 10 projects are looking to foreign banks for finance.

Mario Rivera, president of the Salvadoran Construction Chamber (Casalco), commented that it is not yet possible to access credits from the guarantee fund set up through a trust by the Multisectorial Bank of Investments (BMI).