El Salvador Targets Second Millennium Challenge Donation

©image: mca.gob.sv

The Millennium Funds Program (FOMILENIO), was started in El Salvador in September 12, 2007, with a total donation of $460.9 million, contributed by the United States Millennium Challenge Account (MCA).

The MCA could renew the program when it ends, if all its projects are completed within the established deadlines.

Source: elsalvador.com

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El Salvador: 85% of Fomilenio's Funds Now Allocated

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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.

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The country is among the eleven lower middle income countries who are candidates to qualify for the Millennium Fund for the fiscal year 2012.

The country passed 14 of the 20 indicators used by the Millennium Challenge Corporation (MCC) to test the Assembly of El Salvador, including the three that are mandatory: Control of Corruption, Civil Liberties and Political Rights.

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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.

Fomilenio Invests $2 Million in El Salvador

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Fomilenio, the country's Millenium Fund, has signed contracts relating to energy and drinking water infrastructure in the north of the country.

These projects, valued at $2 million, will be financed with part of a $461 million donation from the US Millennium Challenge Corporation (MCC).