El Salvador: $73 million for Infrastructure and Social Programs
The European Union has announced contributions for social and electoral programs, as well as infrastructure improvements.
Tuesday, November 15, 2011
The nonrefundable collaborative agreements signed are for projects for rural roads, community development, poverty reduction, and assistance to those affected by the recent rains among others schemes.
"The $64.4 million will go to El Salvador’s Caring Community Support Program (PACSES in Spanish), who will seek to "reduce poverty and economic and social inequality, primarily in rural areas, according to the chancellor", reads an article from Reuters.
The government signed a technical and financial assistance treaty with Germany for $ 64 million.
The funds will go to social projects on environment and governance, housing and support programs for Micro, Small and Medium Enterprises (MSMEs).
"The Honduran Minister of the Presidency, expressed satisfaction for completing successfully the intense negotiation process between both economic technical teams, which led to the signing of a cooperation agreement for $ 64 million," reported website Proceso Digital.
Representatives from the World Bank are evaluating the projects for which the government is seeking loans.
Alexander Segovia, technical secretary of the President, reported that the Bank could approve the loans in November, adding they are intended for social programs.
The difficult job of overcoming the economic crisis will have a very eclectic guide who will combine big state projects with the drive of private enterprises.
The economic maneuvering announced in new Ricardo Martinelli’s inaugural address, will have four main axes: The construction of the Metro and the completion of big public works projects that are already underway, along with the maintenance of the momentum of the construction industry after completing the expansion of the Canal. A social policy that includes the use of subsidies for the construction of housing projects. A Ministry has been created for the promotion of small and medium sized businesses. Finally, opening the Panamanian economy to more international trade through more free trade agreements.
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7567Government Procurement Opportunities in the region