El Salvador

World Bank confirms US$ 250 million loan

After the severe economic contraction of 2009, growth prospects for this year remain subdued, suggesting output levels are unlikely to return to pre-crisis levels until 2011. Meanwhile, the free trade agreement signed with Colombia in 2007 came into effect on 1 February, which should help driving up trade flows between the two countries. Finally, the World Bank has confirmed a US$ 250 million loan for the current fiscal year in addition to US$ 200 million per year for the following two years.