USAID. BUR. FOR LATIN AMERICA AND THE CARIBBEAN
An Economic Support Fund Grant is provided to the Government of El Salvador (GOES) to provide credit to its private manufacturing sector to help meet the nation"s balance of payments needs.
1980
Abstract
The Ministry of Planning will coordinate project activities with the Central Bank, small business federations, and the Ministry of Agriculture. Grant funds transfered to the GOES Central Bank will be disbursed over a 12-month period on a preferential basis to those large and medium light manufacturing enterprises that are export-oriented. These funds will be used to finance the importation of vital manufacturing inputs such as mineral and vegetable oils, chemicals, textiles, ingots, plastics, laminated metals, wood products, and intermediate goods. As export production increases, 7,400 domestic jobs will become available and the incurred export revenue will improve the nation"s trade balance. The bulk of program-generated local currency will be used for credit (Phases I and II and the Land-to-the-Tiller), logistical support, and operating cost requirements of the agarian land reform.
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