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Honduras: Hernández Seeks ZEDE Funding from Inter-American Development Bank

By: PanAm Post Staff - May 1, 2014, 12:56 pm

EspañolPresident of Honduras Juan Orlando Hernández reportedly met on Wednesday with the head of the Inter-American Development Bank (BID), Luis Alberto Moreno, to request financing and support for the country’s recently approved startup cities project.

The president met with Moreno in Mexico to discuss the bank’s participation in the Zone for Employment and Economic Development (ZEDE). Hernández first proposed the ZEDEs as a legislator, and after assuming the office of president, signed an agreement with South Korean company Posco Plantec, which is currently conducting feasibility studies. ZEDEs are known as administrative divisions with high political, economic, and even judicial autonomy, based on the principles of free trade.

The government claims BID’s participation would provide greater confidence for costly infrastructure investments.

Posco Plantec will determine whether the communities of Jicarón Galán, Nacaome, and San Lorenzo might become the first startup city enclave. A ZEDE in this area would attract investment from neighboring countries, considering nearby markets such as El Salvador.

Source: La Tribuna.