Projects such as the so-called Comunidades Solidarias Urbanas (Urban Caring Communities) have not been able to begin development due to the delay in the approval and ratification of loans which the Inter-American Development Bank has committed to the Central American country.
The $260 million pending are part of a package totaling $280 million to be used between 2010 and 2014, of which only $20 million has been approved and used for the Ciudad Mujer (Women’s City) project, promoted by the Secretariat for Social Inclusion.
An article in Elmundo.com.sv's notes, "the IDB representative in the country, Rodrigo Paroy, expects the loans to be approved and ratified by the Legislature before the end of the year. The loan program negotiated and agreed between the IDB and the Executive for the period 2010-2014, includes major projects such as Urban Caring Communities. In fact, Congress has not yet ratified $35 million for this plan that remains from the 2010 programming,
Source: elmundo.com.sv
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October 2010
The Government's approval to negotiate two IDB loans is for social and housing programs.
A $ 35 million loan will be allocated for the implementation of the Community Support of Urban Solidarity and a $ 70 million loan to finance the Comprehensive Improvement for Housing and Urban Squatter Settlements Phase II.
June 2009
Costa Rica approved a line of credit from the IDB for the rehabilitation of roads and improvements to the road infrastructure in cities and national routes.
The loans for $850 million authorized by the Inter-American Development Bank (BID acronym in Spanish) were approved by the Legislative Assembly of Costa Rica for financing of the Transportation Infrastructure Program.
August 2008
The funds are to be used for the rural production reactivation program and for poverty alleviation programs for Nicaragua's poorest.
The president of the Inter-American Development Bank (IDB), Luis Alberto Moreno, expressed Sunday in Nicaragua their willingness to continue supporting the government of Daniel Ortega in energy development, rural production and food crisis relief projects.
November 2008
Congress authorized the Government to sign two lines of credit with international banks for $950 million.
These funds will be used to pay for the refinancing of Eurobonds which expire in 2011 and for social projects.
The authorizations, which passed with 74 votes in favor, allows the Government to get $500 million from the IDB and $450 million from the World Bank, of which $650 million will be used to pay for the Eurobonds and the remaining $300 million for social programs.
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