Being granted a loan of $1.4B with favourable terms under the extended fund facility is an enormous privilege. El Salvador is certainly getting far more favourable terms than would for their USD-denominated bonds. Putting it another way, El Salvador being given a line of credit that would have cost them hundreds of millions of dollars had they sold bonds to raise this cash through traditional means.

It's funny to have to explain basic government loan mechanics to this comment, given the derisive comment about "crypto people" needing basic financial concepts explained.