Millennium Fund hones plan for El Salvador

The Millennium Fund has a list of seven projects which it will use in a US$3.6 million pilot plan for productive development in northern El Salvador.

Monday, May 19, 2008

The fund's executive director, José Llort said 51 proposals had been received. The projects chosen include tourism, handicrafts, dairy products and fruit. In all, the projects should provide employment for 1,600 people.

More on this topic

Panama: Subsidies Continue

July 2011

The government has allocated $800 million for subsidies and exemptions this year.

Contrary to statements made by Martinelli in his political campaign, resources for such benefits have been increased during his administration.

It seems that the same short term tax sacrifices will remain, seeing as no cuts have been planned in this area in next year's budget.

Fomilenio Invests $2 Million in El Salvador

September 2010

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

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

More Support for Salvadoran SMEs

August 2009

The government's plans include increasing training programs and easing access to banking credit for SMEs.

The authorities will also work in regulating informal businesses, for them to be able to access SME benefits.

"... the benefits of formality, like registering their brands and inventions in the National Registry...; we will create one-stop processes to speed up paperwork on the different government entities involved in starting and operating a new company...", reported Elsalvador.com.

El Salvador: $150 Million in Projects

June 2009

In the second semester of 2009, the Millennium Fund will execute its largest ever purchasing plan for a total of $150 million.

Of the total funds donated by the United States through the Millennium Challenge Corporation (MCC), the Millennium Fund, Fomemilio, already has committed $52 million to be disbursed in September. The remainder of the funds has not yet been awarded.

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