A statement from the entity affirmed its commitment to El Salvador’s sustainable and inclusive growth by approving a $320 million loan for the “El Salvador Voila” aviation development program and another $145 million to “strengthen” the country’s connectivity: a submarine cable.
At CAF, we are proud to contribute to the leap in air and digital connectivity that El Salvador will achieve through investments in the expansion and adaptation of the airport network, and the first submarine cable that will expand and improve access to high-speed internet through cables, the entity stated.
The report stated that this cable will facilitate access to online education, telemedicine and e-public administration services, among others, thus improving the quality of life of the population.
In this way, we reaffirm ourselves as an ally of sustainable and inclusive growth in El Salvador and the region,” said Sergio Diaz Granados, CAF CEO.
The El Salvador Voila program will encourage the modernization, strengthening and construction of aviation infrastructure, with the aim of reducing air connection costs and times, in order to boost the country’s tourism sector and competitiveness, while at the same time, enhancing the capacity to respond to natural disasters, the statement added.
He explained that the program proposes construction and/or modernization interventions for regional airports in El Salvador, through three projects: construction of the Pacific International Airport, redesign and modernization of the Ilopango Airport, and design and construction of the Tonala Airport, in line with the 2030 Infrastructure Master Plan and the Government’s National Tourism Plan.
It also proposes the deployment of a high-capacity submarine cable, connecting El Salvador to important traffic and content hubs, and strengthening the institutional capacity of the General Authority for Electricity and Telecommunications Supervision (SIGET) to manage it.
At a recent meeting in Lima, Peru, the CAF Board of Directors approved 14 loans to nine countries (Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, El Salvador, Honduras and Peru), totaling $2,740 million, which will be contributed to improve social inclusion, modernize infrastructure, increase competitiveness and accelerate climate action, among others.
Founded in 1970 and currently made up of 21 countries – 19 from Latin America and the Caribbean, plus Spain and Portugal – and 13 private banks, CAF is one of the main sources of multilateral financing and an important generator of knowledge in the region.
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