El Salvador obtains financing to advance submarine cable
The steering committee of the Multilateral Cooperation Center for Development Finance (MCDF) approved a donation of US$500,000 that will be added to the US$130,000 contributed by Latin American development bank CAF to advance a new submarine cable for El Salvador.
MCDF comprises multilaterals from China, Europe and the Americas, including CAF itself, the IDB, the Asian Infrastructure Development Bank, the European Bank for Reconstruction and Development and the World Bank as well as the Chinese finance ministry.
The new contribution will finance a review of the technical, legal, financial and environmental safeguards of the submarine cable project that will originate in El Salvador and connect to other countries in the region through Panama.
In April, Manuel Aguilar, head of El Salvador’s telecom regulator Siget, said the country had begun studies to have its autonomous internet connection from the port of Acajutla in Sonsonate.
Further details about the project have not been disclosed.
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