The Government requested the funds in order to finance government programs in seven different areas.
The programs are: Support for export production, Urban Community Solidarity Development, City Woman, North and East Rural Connectivity, Passenger Transport in the Metropolitan Area of San Salvador (AMSS), power sector reform, strengthening of Justice and Security.
Business leaders and public sector organizations unite to help develop the central region of Alajuela in Costa Rica.
With the guidance of a plan generated at INCAE, a local business school, the Alajuela 2015 initiative was presented by Fundación Latinoamérica Posible, aiming to "increase the appeal for investment, tourism, logistics, the recovery of urban areas by improving infrastructure and the quality of life in the region.”
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.
"The agreement is divided into three major components: human development, production development and the 'northern longitudinal highway' and was signed in 2007," comments Vincent Ruddy, MCC director for El Salvador, according to Laprensagrafica.com.
Fomilenio, the country's Millenium Fund, has signed contracts to carry out community infrastructure, public services and productivity improvement projects.
Of the $460.9 million donated by the Millennium Challenge Corporation (MCC), $361 million have now been earmarked.
Laprensagrafica.com reports comments from José Ángel Quirós, Fomilenio's executive director, saying that, "of the remaining $100 million, contracts are still needed for $50 to $60 million. The rest of the funds will be used for administrative purposes".
Two weeks ago, construction company Norberto Odebrecht received the order to commence this infrastructure project.
It is currently working with government authorities in the project’s first stage, which comprises developing a social plan.
“Our contract in Curundu includes studies, design and construction. We’ll start by detailing and expanding the social, technical and environmental studies of our original proposal”, said an Odebrecht representative.
Yesterday Fomilenio received the first bids for the project, which has assigned $11 million.
These proposals will be analyzed for the first phase of the project in which 10 contracts will be awarded for small-scale works. During 2010, Fomilenio will award 60 more.
José Ángel Quirós, head of Fomilenio, commented that its entity will finance 100% of the construction of each sub project, and each community will contribute 20% of its maintenance, either with payments in kind (materials or workforce) or in cash.