Honduran Ports to Receive $250 Million

The IDB would grant a loan through a trust to the Honduran Port Authority (ENP) for port modernization.

Wednesday, March 18, 2009

Representatives from the Inter-American Development Bank (IDB) visited the company yesterday. Among them, IDB Vice President, Steven Puig, told Laprensahn.com: "We are very interested in authorizing the loan to the ENP as soon as possible so that they can begin to work on expanding their facilities."

They estimate that the money will start to be disbursed within two months and that “the disbursements will be implemented gradually, at the pace that the project advances 'because it is part of the bank’s requirements for granting the loans,' concluded Steve Stone."

More on this topic

Ports of Honduras: $135 million Inaccesible

August 2014

Although the financial resources needed to modernize the port of Cortés are available through an IDB loan which has already been approved, lack of implementation is preventing work from starting.

The year 2014 had been set as the date when work would start on the modernization of the four main ports but the National Port Company (ENP by its initials in Spanish) has not been able to start and works are still paralyzed, despite having borrowed $135 million from the Inter-American Development Bank (IDB).

IDB earmarks US$3.7 billion in loans for private sector

June 2008

The Inter-American Development Bank (IDB) aims issue US$3.7 billion in loans to the private sector next year, said Steven J. Puig, the bank's vice president for private-sector lending.

Puig added that the IDB also hopes to increase its presence in Central America and the Caribbean. Two new officials are being hired in El Salvador to handle lending to major companies and small businesses respectively.

Expansion at Puerto Cortes in Honduras

January 2009

Prior to the approval of the loan for the Expansion and Modernization Plan, a IDB mission will evaluate the National Port Company starting tomorrow.

According to latribuan.hn, "the higher port authority will offer the visitors a general overview of the port, and aspects relating to government expectations for the port, information related to auditing, administration control and the budget preparation process.

Honduras gets $240 million to expand port

June 2008

Two international development banks are providing 240 million dollars in funding to help Honduras expand the port facilities of the Empresa Nacional Portuaria (ENP, National Port Company) at Puerto Cortés on the Caribbean coast.

The funds will be provided by the Central American Bank of Economic Integration and the International Development Bank.

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