El Salvador: $10 million more for infrastructure

The Millennium Challenge Corporation (MCC) will approve the new disbursement for investment during the first quarter of 2009.

Wednesday, December 17, 2008

The MCC could authorize the additional $10 million that will be invested in development projects in the north of the country.

"The disbursement request (from Fomileno) is for around $10 million," said Vincent J. Ruddy, resident country director for MCC. He added that the approval could be ready no later than the first week of January. "It is under review," he added.

More on this topic

El Salvador: Encouraging Advancement of Fomilenio II

February 2013

Although still lacking formal approval for Fomilenio II by the board of the Millennium Challenge Corporation, $ 2.9 million has already been authorized for its offices.

The Millennium Challenge Corporation (MCC) has authorized giving El Salvador $2.9 million for setting up the Fomilenio II offices.

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.

Nicaragua May Lose Another $190 Million

February 2009

Nicaragua would lose these resources if the American program Millenium Challenge Account (CRM) decides on March 11th to withdraw from the country.

In its website, Mi Punto publishes: "According to the newspaper La Prensa, CRM had anticipated expanding their contribution with $240 million more to build highways, of which $110 million would be contributed by the agency and $130 million by the Central American Bank of Economic Integration (BCIE), which [funds] are also suspended.”

The EU also freezes funds to Nicaragua

December 2008

The EU has joined the the stance adopted by the US regarding the Millennium Account, and announced that it will not turn over some $37 million to Nicaragua.

This is due to the criticism of the recent electoral process and complains about "the offenses" committed by President Daniel Ortega against contributors.

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