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.
A new wind farm and the expansion of the International Airport of El Salvador, are the first two projects to be conducted under this system.
"Today (yesterday) I called a meeting with the president of CEPA (Autonomous Executive Port Commission) and CEL (Executive Hydroelectric Commission of the Lempa River) to immediately structure the first two projects: the expansion of the international airport and the wind project which the CEL is working with," said Alexander Segovia, Technical Secretary of the Presidency.
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.
47 companies replied to the call by the Government of El Salvador to present investment projects supported by grant funds from FOMILENIO II.
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."
The International Services Act, which created the environment for the arrival of foreign banks, free zones and call centers, will be modernized.
The government of El Salvador is preparing amendments to the Law on International Services, which in its time allowed a multiplication of foreign investment in the financial, telecommunications and the maquila sector among others.