El Salvador’s exporters promised $175 million

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.