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The Commission of Salvadorans Abroad issued a favorable opinion to ratify an agreement between the governments of El Salvador and India, which will allocate a total of US$1,250,000 to finance 25 infrastructure projects in the country.
This agreement seeks to improve socioeconomic conditions by creating or improving essential physical infrastructure. Each of the projects will have a budget of US$50,000 and will be executed within a period of five years, with five projects per year. The main focus will be the construction and improvement of roads, community centers, as well as infrastructure related to education, health and sanitation, key areas for the development of communities.
Margaret Meza, head of treaty negotiation at the Ministry of Foreign Affairs, explained during the presentation of the agreement that the funds will be managed by the Secretaría Técnica para el Financiamiento Externo (SETEFE), which will oversee the correct execution of the resources. This body will be in charge of ensuring that each project meets the established standards and is executed within the established deadlines.
The official also highlighted that the agreement with India includes tax exemptions and tax refunds, such as VAT, on goods and services purchased in the country or imported for the execution of the projects. These types of measures seek to maximize the effectiveness of the funds and ensure that they are entirely allocated to infrastructure works.
The agreement not only has an impact on infrastructure development, but also aims to strengthen bilateral relations between El Salvador and India. Meza emphasized that this collaboration can open doors for future investments and joint projects in various areas of common interest.
Along the same lines, Deputy Ana Figueroa said, “This type of agreement directly benefits the salvadoran people, and as a commission we are firmly in favor of them.”The five annual projects will be defined by a committee that includes officials from SETEFE, the Cooperation Office, the Ministry of Foreign Affairs and the Indian embassy in Guatemala.
