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Posted on: December 8th, 2006
Filed Under: [ Non-US News ] [ Top Stories ]
Tags: El Salvador, remittance, remittances
Newsletter readers - Don't forget HispanicTIPS - Gracias, Tomás
by Marcela Sanchez
“El Salvador has become the first low- to middle-income country to secure a grant from the Millennium Challenge Corporation, President Bush’s foreign aid program designed to assist well-governed developing nations. With the $461 million grant, the United States is set to join Salvadoran immigrants in sending money south.The grant may seem small relative to the aggregate $2.8 billion sent by immigrants in remittances last year, particularly since it will be divvied up over five years. But that doesn’t mean Salvadorans here don’t have some specific suggestions for the MCC, and a hope that the program could help them change the way remittances are affecting their country.”
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