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DECEMBER No. 571

THE LEGISLATIVE ASSEMBLY OF THE REPUBLIC OF THE SALVADOR,

CONSIDERING:

I.- That the Government of the Republic of El Salvador, among its purposes, contribute to the social and economic recovery of the Historic Center of San Salvador, favoring the return to its residential use and the reduction of the housing deficit, through articulated interventions in that sector, with strengthening the cooperative model.

II.- That for the attainment of the above has been managed with the Italian Financial Institution (IFI) Artigiancassa S.p.A., appointed by the Government of the Republic of Italy, for the signing of the Financial Agreement for an amount of up to DOCE MILLONES OF EUROS (€12,000,000.00), equivalent to DIECISEIS MILLONES DOSCIENTS OTROENTLAS

III.- That in response to the above exposed and based on the provisions of Art. 148 of the Constitution of the Republic, it is appropriate to authorize the Executive Body in the Treasury Branch to sign the Financial Agreement to finance the aforementioned project.

TANTO,

in the use of its constitutional powers and at the initiative of the President of the Republic, through the Minister of Finance.

RIGHT:

Art. 1.- Authorize the Executive Body in the Treasury Ramo, so that by means of its Owner or of the official that he designates, it subscribes on behalf of the State and Government of the Republic of El Salvador, a Financial Agreement with the Italian Financial Institution (IFI) Artigiancassa S.p.A., for an amount up to DOCE MILLONE OF EUROS (€12,000.000.00)

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MONTO DEL PRESTAMO: Until DOCE MILLONES OF EUROS (€12,000,000.00), equivalent to DIECISEIS MILLONES DOSCIENTA MIL CUATROCIENTS 60/100 DOLARES OF THE UNITED STATES OF AMERICA (US$16,280,400.60).

PLACE OF PRESTAM: Twenty-six (26) years.

INTERES: Zero point by Hundred (0.0%).

CRONOGRAM OF AMORTIZATION: The first share of capital will be paid at sixteen (16) years from the date on which the first disbursement of the loan is credited to the account. Contributions will be paid semiannually, consecutively and as far as possible equal, until the total cancellation of the loan.

DESTINO: To finance the execution of the Project “Social-Economic and Cultural Recalcification of the Historic Center of San Salvador and its Habitational Function through the Cooperative Movement”.

Art. 2.- In the negotiation of this Loan Contract, the Government of the Republic must ensure that in order to authorize the disbursements, the feasibility study includes the specific plans and the projects with their respective costs; also, it must consider that, in terms of the intervention and recovery of public spaces, it must be worked together with the Municipal Office of San Salvador and in the other topics of the project that the laws and municipal ordinances have made it possible;

Art. 3.- The Contract of Loan signed by the Government of the Republic of El Salvador with the Artigiancassa S.p.A., Italian Financial Institution (IFI) in accordance with this Decree shall be subject to the approval of this Legislative Assembly for its validity.

Art. 4.- This Decree shall enter into force on the day of its publication in the Official Gazette.

DADO en EL SALON AZUL DEL PALACIO LEGISLATIVE: San Salvador, at the five days of December of the year two thousand thirteen.

OTHON SIGFRIDO MORALES, PRESIDENT.

ENRIQUE ALBERTO LUIS VALDEZ SOTO, GUILLERMO ANTONIO GALLEGOS NAVARRETE, FIRST VICEPRESIDENT. SECOND VICEPRESIDENT.

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JOSE FRANCISCO MERINO LOPEZ, FRANCISCO ROBERTO LORENZANA DURAN, TERCER VICEPRESIDENT. VICEPRESIDENT FOURTH.

CARLOS ARMANDO REYES RAMOS, QUINTO VICEPRESIDENT.

LORENA GUADALUPE PEÑA MENDOZA, MANUEL VICENTE MENJIVAR ESQUIVEL, FIRST SECRETARIAT. SECOND SECRETARY.

SANDRA MARLENE SALGADO GARCIA, JOSE RAFAEL MACHUCA ZELAYA, TERCERA SECRETARIA. SECRETARY FOURTH.

IRMA LOURDES PALACIOS VASQUEZ, ERNESTO ANGULO MILLA, QUINTA SECRETARIA. SECRETARY SIX.

FRANCISCO JOSE ZABLAH SAFIE, JOSE SERAFIN ORANTES RODRIGUEZ, SEPTIMO SECRETARIO. OCTAVO SECRETARY.

CASA PRESIDENCIAL: San Salvador, at the 16th of December of the year two thousand thirteen.

PUBLIQUESE,

Carlos Mauricio Funes Cartagena, President of the Republic.

Juan Ramón Carlos Enrique Cáceres Chávez, Minister of Finance.

D. O. No. 236 Volume No. 401 Date: December 16, 2013

JBCHM/ielp 28-01-2014

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