• Costa Rica Coffee Guide

Two Countries Qualify for New U.S. Development Aid

May 14, 2004

NICARAGUA and Honduras this week were named two of the 16 impoverished countries to qualify for a new $1 billion U.S. development fund called the Millennium Challenge Account.Created last February by the administration of President George W. Bush, the fund aims to assist development initiatives proposed by qualifying countries chosen for taking steps to improve governability and rule of law, while fighting corruption and promoting market opening.The 16 finalist countries, chosen from a list of 63, were announced Monday during a conference in the White House with President Bush, U.S. Secretary of State Colin Powell, and diplomats representing the qualifying nations.Bush lauded Honduras for its efforts to improve education and health care in recent years, noting that the Central American nation’s 96% immunization rate is among the highest of poor countries.The qualifying countries must now present proposals asking for a specific amount of money with detailed accounts of how the funds will be spent. Not all countries will receive the same amount of development aid.Nicaragua’s Minister of the Presidency Eduardo Montealegre announced this week that Nicaragua’s proposal would include a request for funds to support small agricultural and business initiatives, as well as money to finance municipal health, education and infrastructure development. He did not mention how much Nicaragua would request.The U.S. Congress this year appropriated $1 billion for the millennium account, and the Bush administration hopes the fund will increase to $5 billion by 2006.Of the 16 countries, Bolivia was also selected to participate, with the remaining 13 nations representing Africa, Asia and Eastern Europe.

You may be interested

Costa Rica the right choice for many seeking cardiac care
Sponsored content
5 views
Sponsored content
5 views

Costa Rica the right choice for many seeking cardiac care

Sponsored Content - April 16, 2021

Without insurance, cardiology visits and procedures in the United States can be incredibly expensive. Even with insurance, the cost for…

Costa Rica to meet Mexico in CONCACAF Nations League semifinal
Costa Rica
3732 views
Costa Rica
3732 views

Costa Rica to meet Mexico in CONCACAF Nations League semifinal

Alejandro Zúñiga - April 16, 2021

The Costa Rica men’s national soccer team will face Mexico in Denver as part of the CONCACAF Nations League semifinals.…

Costa Rica issues Yellow Alerts due to heavy rainfall
Costa Rica
2491 views
Costa Rica
2491 views

Costa Rica issues Yellow Alerts due to heavy rainfall

The Tico Times - April 15, 2021

The National Emergency Commission (CNE) on Thursday established Yellow Alerts due to weather that is impacting much of Costa Rica.…