June 10, 2020
Central America's most densely populated country gets $250 mln to address the health and economic effects of COVID-19
The Inter-American Development Bank said Tuesday that it granted a $250 million loan for El Salvador "to address the health and economic crisis caused by COVID-19."
The Salvadoran government will use the money for cash transfers to low-income earners and provide liquidity to cash-strapped companies, IDB said in a press release.
El Salvador's Finance Ministry said in a statement that the 20-year loan carries an interest rate of 2.11% per year.
The new loan adds to a seven-year facility for $250 million that IDB provided to El Salvador last month at a rate of 115 basis points over Libor.