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FOMILENIO
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.
For all its projects, Fomilenio will spend an approximate $160 million in 2010.
Source: laprensagrafica.com
More on this topic
August 2010
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.
February 2011
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.
March 2010
The bank announced it will invest 1% of its net earnings of 2009 in social responsibility projects.
Alberto Conde, CEO of the Panamanian branch, explained their top objectives will be education, football and culture, and that they will invest around $407.000.
He also told newspaper La Estrella that “this year, over 1.000 kids from around the country have benefited from our scholarships”.
January 2011
The government signed a technical and financial assistance treaty with Germany for $ 64 million.
The funds will go to social projects on environment and governance, housing and support programs for Micro, Small and Medium Enterprises (MSMEs).
"The Honduran Minister of the Presidency, expressed satisfaction for completing successfully the intense negotiation process between both economic technical teams, which led to the signing of a cooperation agreement for $ 64 million," reported website Proceso Digital.