El Salvador: $ 90 Million for Social Program
The European Union and the AECID funded part of the Caring Communities program with more than $ 90 million.
Thursday, November 25, 2010
Through this agreement, both agencies agree to formulate, monitor and evaluate a new budget for the period 2011 to 2014. The agreement will provide a volume of government support of around 71 million Euros (about 94.8 million dollars).
The project by the Central American Bank for Economic Integration will assist in improving living conditions of low-income families located in rural areas.
The funds will be earmarked for social development programs and to combat poverty.
Loans totaling $15 Million will support startup of program to deliver services to urban children below age six
Americans may wonder why taxpayer funds should be poured into a bucket as leaky as Latin America if the goal is curing underdevelopment.
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