$413 million in Projects for FOMILENIO

47 companies replied to the call by the Government of El Salvador to present investment projects supported by grant funds from FOMILENIO II.

Tuesday, March 5, 2013

Elmundo.com.sv reports that the Salvadoran government "already has 47 expressions of interest to run future investment projects in the coastal zone of the country, as part of the second Fomilenio, which together amount to $413 million."

"... Of the 47 projects submitted, 29 are in tourism and agribusiness, equivalent to 63%. The rest are projects in aquaculture, education, real estate, infrastructure, and energy. "

"... This initiative is part of the proposal of the second Fomilenio, where the country has already passed 90% of the filters required by the US Millennium Challenge Corporation (MCC), in order for the funds to be approved."



More on this topic

Millennium Challenge Corporation Approves Fomilenio II

July 2013

The Investment Committee of the Millennium Challenge Corporation has given approval for the implementation of Fomelino II in the marine coastal area of El Salvador.

This "is a momentous step for the realization of this strategic commitment which will bring significant benefits to the population of the coastal area and the country in general," said Alexander Segovia, Technical Secretary of the Presidency.

Growing Interest in Fomilenio II

April 2013

There will be additional credit lines for investments in areas where the U.S. government assistance program is carried out.

"Currently, there are 67 expressions of interest for investment in projects to be implemented in the coastal zone, and that number could rise to 80, with a new call be undertaken by the Government in the next few days", reports Diariocolatino.com.

El Salvador: Consultations Underway for FOMILENIO II

April 2012

The second FOMILENIO program will prioritize private enterprises and emphasize the development of the coastal zone.

Initial consultations with employers from different fields for the purpose of choosing the projects within the FOMILENIO II program, sponsored by the United States Millennium Challenge Corporation (MCC) government began this week.

Investment Opportunities in El Salvador

March 2012

Private investors have had their interest aroused by opportunities offered by the second agreement with the Millennium Challenge Corporation for development of the coastal and maritime zone.

The government of El Salvador expects to sign a second agreement with the Millennium Challenge Corporation (MCC) of the United States to promote projects in the coastal area of the country, called Fomilenio II.

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