UPDATE 1-World Bank approves $100 mln loan for El Salvador water projects
Last edited Fri Apr 28, 2023, 03:59 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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US Secretary of State Michael R. Pompeo shakes hands with Salvadoran President Nayib Bukele during a joint press availability in San Salvador, El Salvador on July 21, 2019. (Ron Przysucha / Wikimedia Commons)
The Donald Trump of Central America
BY
HILARY GOODFRIEND
President Nayib Bukele is El Salvador’s Donald Trump. His hard-right bluster and media-centric populism threaten to deal a devastating blow to the country’s once-mighty left.
El Salvador’s new president, Nayib Bukele, has only been in office since June, but already he has the world’s attention. Deemed a “millennial president” in the international press for his social media savvy and aversion to neckties, Bukele’s term kicked off a dizzying parade of scandal and spectacle that is already drawing Trump comparisons.
A 38-year-old millionaire of Palestinian descent with a background in advertising, Bukele’s election unseated the party of the former leftist guerrillas, the Farabundo Martí National Liberation Front (FMLN), who fought the US-backed military dictatorship to a draw during a twelve-year civil war (1980–1992). The FMLN governed El Salvador from 2009–2019, ousting the right-wing Nationalist Republican Alliance (ARENA) party, which had ruled the country for twenty years. While the FMLN oversaw major gains in social investment and inclusion, it failed to restructure the country’s highly dependent, unequal, dollarized economy, and was successively weakened over its two terms by pragmatism and compromise amid escalating right-wing destabilization and a deteriorating geopolitical climate.
Bukele, a former FMLN mayor, was expelled from the party in 2017 for ethics violations. He ran an insurgent presidential campaign with the conservative GANA party — which splintered from ARENA in 2010 — framing himself, savior-like, against a corrupt political class. In his inauguration speech, Bukele claimed to have “turned the page” on El Salvador’s postwar period. Unfortunately, his personal brand of post-ideological populism has revealed an all too familiar reactionary agenda.
The administration’s first few months have been marked by improvisation, with signature FMLN programs like the Women’s City service centers in an uncertain limbo. But while Bukele appears to favor publicity over policy, some disturbing tendencies are emerging.
More:
https://jacobin.com/2019/07/el-salvador-nayib-bukele-donald-trump
