El Salvador: World Bank, Government Working Jointly to Protect the Most Vulnerable

February 23, 2011

SAN SALVADOR, February 23, 2011 - The World Bank Country Director for Central America, Felipe Jaramillo, is visiting El Salvador to renew the Bank's commitment to supporting the government's social and economic agenda.

As part of his official introduction as Director for Central America, Jaramillo met Finance Minister Carlos Caceres in order to follow up on the implementation of the World Bank-financed project portfolio in El Salvador.

Jaramillo also talked to members of the economic and social Cabinet, and with representatives of agencies responsible for the implementation of projects receiving financial and technical assistance from the World Bank.

Some of these operations are still in their initial stage, such as the US$50 million Deferred Drawdown Option loan approved by the Board of Directors on February 2nd, 2011, which will allow the Salvadoran Government to access immediate financing in case a significant natural disaster occurs, or the recently implemented Income and Employment Support Project that supports temporary incomes and job training services for the poor in vulnerable urban areas.

Jaramillo also met Sigfrido Reyes, President of the Legislative Assembly, and representatives from El Salvador's private sector. The meetings were also attended by Laura Frigenti, World Bank Director for Strategy and Operations in Latin America and the Caribbean, and World Bank officials.

The World Bank's new offices in El Salvador were officially inaugurated as part of Jaramillo's visit to the country; they are located in the ninth floor of Torre Futura, El Mirador Street, Colonia Escalon, in San Salvador.