El Salvador to obtain $150 mln from progress lender for education and learning

SAN SALVADOR, Dec 21 (Reuters) – El Salvador will receive a $150 million loan from Latin American development financial institution CAF to improve its education and learning process, the lender mentioned in a Wednesday statement.

The board of CAF accepted the financial loan – the country’s to start with from the financial institution – which will be utilised on devices, teaching and closing the electronic gap in Salvadoran educational institutions, the bank stated in a statement.

“We are a strategic ally for the improvement of international locations with thorough applications like this,” mentioned CAF Executive President Sergio Diaz-Granados in the statement, including the coronavirus pandemic had established an “academic crisis” in the country.

El Salvador, which made Bitcoin official tender very last year, became a complete member of CAF in March in look for of increasing its funding resources.

In September, CAF consultant to the nation Oscar Avalle said in a television interview that the lender was doing the job with the Salvadoran authorities on getting the mortgage.

The government expects the Central American country’s financial state to increase 2.8% in 2022 following rebounding from the effects of the coronavirus pandemic in 2021 with 10.3% progress.

Reporting by Nelson Renteria Crafting by Kylie Madry Editing by Aurora Ellis


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