Spain has promised USD265 million worth of foreign aid to El Salvador as part of the 2010-2014 development framework agreement signed by the two countries Oct. 13.
The agreement was formalized in El Salvador by Spanish Secretary of State for International Cooperation Soraya Rodriguez and El Salvadorian Minister of Foreign Affairs Hugo Martinez.
“This partnership framework that we have signed will have an estimated value and indicative … about USD265 million for the period in question until 2014 and will be the central mechanism for cooperation between Spain and El Salvador,” Martinez said according to ABC.
The agreement identifies three priority areas of the Spanish aid to the Latin American country over the next four years. According to a news release from Spain’s foreign ministry, these areas are:
- “Significant and verifiable reduction in poverty, social and gender inequality and social exclusion. - Structural reform of the public administration to achieve its devolution and decentralization and the implementation of a fiscal agreement guaranteeing sustainable public finances. - Construction of national policies and the promotion of social participation.”