• Squaremouth travel insurance button 468x106
  • Tico Travel Surfing
  • Costa Rica Real Estate

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

COVID-19 protocol activated ‘many times,’ but still no coronavirus in Costa Rica: Health Ministry
Costa Rica
104 views
Costa Rica
104 views

COVID-19 protocol activated ‘many times,’ but still no coronavirus in Costa Rica: Health Ministry

Alejandro Zúñiga - February 28, 2020

The Health Ministry said Friday that an airport protocol to attend to sick travelers has been activated "many times" in…

Prosecutor’s Office raids Costa Rican presidency for alleged violation of citizens’ privacy
Costa Rica
66 views
Costa Rica
66 views

Prosecutor’s Office raids Costa Rican presidency for alleged violation of citizens’ privacy

AFP and The Tico Times - February 28, 2020

The Prosecutor's Office in Costa Rica raided the Presidential House on Friday as part of an investigation into a government…

Pic of the Day: Sea turtle in Puntarenas, Costa Rica
Pic of the Day
15 views
Pic of the Day
15 views

Pic of the Day: Sea turtle in Puntarenas, Costa Rica

The Tico Times - February 28, 2020

The Marine Park in Puntarenas, Costa Rica, was founded in 2002. It was created (by Law No. 8065) in the former…

Do NOT follow this link or you will be banned from the site!