The Millennium Challenge Corporation has approved a second disbursement of funds for $277 million, aimed at developing the country's coastal area.
Now the decision rests with the U.S. Congress who will have to give an answer in 15 days. "... The MCC confirmed that its board has approved a pact for $277 million over five years. The Salvadoran government will contribute $88.2 million in the same period.
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).
The MCA could renew the program when it ends, if all its projects are completed within the established deadlines.
$5 million will be invested in building the new Technology Institute of Chalatenango (ITCHA).
ITCHA comprises a total 5.461 square meters of construction, in six two-storey buildings and an auditorium. It will be located in the campus of the “Dr. Francisco Martínez Suarez” National Institute, over the Northern Longitudinal Highway.
Two careers will be though at ITCHA: Civil Engineering Technician and Alternative Tourism Technician.