Fomilenio Invests $2 Million in El Salvador

Fomilenio, the country's Millenium Fund, has signed contracts relating to energy and drinking water infrastructure in the north of the country.

Friday, September 3, 2010

These projects, valued at $2 million, will be financed with part of a $461 million donation from the US Millennium Challenge Corporation (MCC).

"The ten contracts comprise the development of 16 projects in El Salvador's northern communities, of which seven are for drinking water systems and basic sewage treatment, three relate to project works supervision and another three to technical assistance and maintenance," José Ángel Quirós, Fomilenio executive director, told laprensagrafica.com.

More on this topic

El Salvador Not Taking Advantage of Fomilenio I Investment

August 2013

The infrastructure and road network built with funding from the Millennium Challenge Corporation should be the focus of new development projects in the area.

An article in ElSalvador.com reports that Jose Angel Quiros, former executive director of Fomilenio, said "I have no information on new projects in the north, but without a doubt thought must be given to how to maximize that infrastructure and road network for the country's productive sectors ... the region's strategic programs north of the country, carried out with the first funds from the Millennium Challenge Corporation (MCC) between 2009 and 2012, must be diversified and enhanced with new works. "

El Salvador eligible for Fomilenio 2012

November 2011

The country is among the eleven lower middle income countries who are candidates to qualify for the Millennium Fund for the fiscal year 2012.

The country passed 14 of the 20 indicators used by the Millennium Challenge Corporation (MCC) to test the Assembly of El Salvador, including the three that are mandatory: Control of Corruption, Civil Liberties and Political Rights.

El Salvador: 85% of Fomilenio's Funds Now Allocated

September 2010

Of the $461 million Fomilenio donation, the government institution created to administer the projects has now committed $358 million.

September will mark three years since the signing of the agreement between the Millennium Challenge Corporation (MCC), the US government and El Salvador.

El Salvador Targets Second Millennium Challenge Donation

June 2010

To obtain a second donation from the Millennium Challenge Account, the country must reach the objectives of the program in the established dates.

The Millennium Funds Program (FOMILENIO), was started in El Salvador in September 12, 2007, with a total donation of $460.9 million, contributed by the United States Millennium Challenge Account (MCA).

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