The funding will be used to implement the “Emergency Multisectoral Programme: Strengthening Fiscal and Social Equity” intended to support employment generation and emergency preparedness in addition to other social concerns.

During the signing, President Porfirio Lobo said, “it is a good day for Honduras, to have this 280 million dollar loan from the BCIE.”

The $280 million, equaling about 5,314 million lempiras, will be coordinated by the Unit Project Management (UAP), the Ministry of Finance, and the Secretariat of the Presidency.

The term of the loan by the BCIE is 15 years , three years of grace and an interest rate of 6.9 percent.

The funding will be used to implement the “Emergency Multisectoral Programme: Strengthening Fiscal and Social Equity” sought by the authorities of the executive through priority social initiatives, employment generation, social protection, emergency, among others.