Over $400 million designated for health affairs, competitiveness, small and medium enterprises, among other sectors, may not be disbursed unless congress speeds up their approval.
This is the view of the Inter-American Development Bank, who will discuss with government officials whether to extend or suspend the loans already approved.
An article in Prensalibre.com states: "... non-approval of these loans has prevented planned activities which had been allocated funds from the 2011 budget which now can not be implemented ", said Juan José Taccone, BID representative in Guatemala.
Congress has not approved the loan because it upheld the appeal by the Minister of Interior Carlos Menocal, regarding short assembly meetings where the quorum was not met.
The slow progress of the legislative agenda caused the cancellation last month of a World Bank loan of U.S. $114.5 million for programs to combat poverty. "
Source: prensalibre.com
More on this topic
August 2011
The Inter-American Development Bank has approved a new Country Strategy, which has a financial framework of between $700 and $1.060 million for the period 2011-2014.
The strategy will focus on sectors that remain obstacles to the growth of the country such as transport, energy, early childhood development and innovation.
October 2008
The Inter-American Development Bank approved a loan today for the widening of the Panama Canal, the biggest infrastructure project underway in Latin America.
"The IDB has been a strong ally of Panama for almost 50 years," said the president of the bank, Luis Alberto Moreno, in a release.
July 2011
The Costa Rican Legislative Assembly has approved a $200 million loan for road infrastructure.
The Inter-American Development Bank (IDB) loan, is part of a loan package of $850 million, which will be disbursed in installments.
"These resources, which are exclusively for matters relating to road infrastructure, will be used for a second tranche of cantonal road development in a number of towns and roads that have already been established, the projects will be monitored by a unit of the Ministry of Public Works and Transportation", published Prensalibre.cr.
January 2010
The Inter-American Development Bank (IDB) will loan $27 million to a program fostering rural business.
The funds are earmarked for the departments of Olancho, El Paraíso, Colón and Gracias a Dios, and intended to fund projects by small producers. It is part of the National Program for Sustainable Rural Development (Pronaders).
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