The financing will be signed with institutions such as the Central American Bank for Economic Integration (CABEI), the Inter-American Development Bank (IDB), and the International Bank for Reconstruction and Development (IBRD).
The loans include a US$109 million for which Bukele stormed Congress in February last year to pressure lawmakers to modernize the Police and the Army.
Other funds will be destined to complete the state budget (US$250 million), social projects (US$91 million), and local development (US$200 million).
El Salvador, legislative election
Final result (seats)
NI (centre-right): 56 (new) Arena (conservative): 14 (-23) FMLN (left): 4 (-19) Gana (centre-right): 5 (-5) ...
Lawmakers also agreed to allocate resources for coffee producers' climate change resilience, the response to the COVID-19 pandemic, and micro and small businesses' aid. At the same time, negotiations continue to acquire a US$1.4 billion deal with the International Monetary Fund (IMF).
In June 2019, the ruling New Ideas party supported the Territorial Control Plan to incorporate military forces into the security tasks performed by Police officers. At least 9,000 military personnel have been deployed nationwide in anti-gang patrol operations so far.
Several organizations warned over human rights violations generated by taking the military to the streets for security tasks. They have also questioned a possible purchase of drones, arguing that the equipment could be used for political persecution against Bukele's opponents.