OPEC Fund helps El Salvador grow tourism and rural areas with new $100 million deal
Image used for illustrative purpose. Photo: WAM
Vienna: The OPEC Fund for International Development has agreed to give two new loans worth $100 million to El Salvador. This money will help the country grow tourism, improve roads and services, and support farmers and people living in rural areas.
The deal was signed in Vienna during a visit by OPEC Fund President Abdulhamid Alkhalifa. He met with El Salvador’s President Nayib Bukele and top government officials including Minister of Finance Jerson Posada, Minister of Public Works and Transport Romeo Rodríguez, Minister of Tourism Morena Valdez, and Minister of Health Francisco Alabi. During the visit, Mr. Alkhalifa also went to Zacamil Hospital, which got help from the OPEC Fund’s COVID-19 support program in 2020.
Mr. Alkhalifa said that the partnership with El Salvador shows a shared goal for strong and sustainable growth. The new investments will create jobs, help families earn more money, and make the country’s tourism and farming areas stronger. He added that the OPEC Fund is proud to help El Salvador build a better and greener future.
The new loans will help two main projects. The first is the Surf City Program – Phase II, worth $70 million. It will develop the La Libertad coastal area, which is the country’s main tourism hub. The project will repair more than 23 kilometers of roads and improve sanitation and wastewater systems for about 125,000 people. It will also boost eco-friendly tourism, create new jobs, and help local businesses grow.
The second project is the Rural Adelante 2.0 Program, worth $30 million. It will help 74,000 rural families earn more income through smart farming and better rural infrastructure. The program will also give special support to women, youth, and indigenous communities to make sure everyone benefits from the progress.
The OPEC Fund has worked with El Salvador since 1976. With these new loans, total funding has reached more than $350 million. This long partnership has supported projects in agriculture, energy, health, roads, and financial inclusion.
