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El Salvador’s exporters promised $175 million

Friday, July 9, 2010


The government of El Salvador promised exporters to receive three and a half years of financing for $175 million though a national development bank that will be opened next year.
 
The funds are to be made available from government funds and an Inter- American Development loan that is expected to raise $35-40 million.
 
The authorities have yet to define the mechanism that will replace the 6 percent “drawback” tax refund previously offered to exporters.

Original source (in Spanish): El Salvador.com