Salvadorans Unions are opposed to the purchase of unrated debt using capital from the Pension Administration Fund.
The Committee to Defend Workers Pension Funds believes that they will start to purchase fraudulent bonds in order to repay the debt of an institution which, since it started the program "Housing for Everyone" has administered in an "impaired" fashion, the funding for this initiative.
The lack of clean water and sanitation creates pollution problems and limits development of coastal areas.
The absence of adequate sanitation infrastructure increases investment costs for coastal development in up to 10%, forcing to arrange for the supply of drinking water and to build water treatment plants.
Alberto Ascencio, president of the Salvadoran Hotel Association, points to Laprensagrafica.com: "Here in the country we speak about tourism development but we really do not have the basic needs in those destinations we promote at a regional or international level."
The National Housing Fund will start in the coming days the bidding process for 3 condominium projects.
From Friday 26th to Monday 29th the bidding will begin on a 1,068 residential apartment project in Santa Lucia and one of 416 units in Procavi. The first is valued at $ 16 million and the second at $ 7 million.
El Salvador's 'Casa para Todos' scheme supported by president Mauricio Funes will be relaunched on 9 September with five new projects.
With financing coming from the People's Housing Fund (Fonavipo) and the Social Housing Fund (FSV) the five new projects will provide 942 homes for which construction is expected to be completed by the end of 2011.
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