UPDATE 1-World Bank approves $100 mln loan for El Salvador water projects [View all]

[Judi Lynn]

Last edited Fri Apr 28, 2023, 02:59 AM - Edit history (1)

Reuters
Thu, April 27, 2023 at 8:16 PM CDT·1 min read
(Adds detail from statement)

SAN SALVADOR, April 27 (Reuters) - The World Bank approved a $100 million loan to El Salvador to help the Central American country improve the reliability and quality of its water supplies as well as prepare for natural disasters, the lender said in a statement on Thursday. The loan will mature in 25 years and include a five-year grace period, according to the statement.

"It's key for our country to promote the rational use of water so as not to compromise or jeopardize its availability for future generations," said Finance Minister Alejandro Zelaya.

The financing assistance aims to modernize the country's water and sewage services, and cover the metropolitan area of the capital that receives water from the Torogoz treatment plant. The plant supplies water to some 40% of the people living in San Salvador's metro area, the lender said.

The loan is also set to create an immediate response plan for a natural or human-caused emergency.

More:
https://finance.yahoo.com/news/1-world-bank-approves-100-011655948.html

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