A. M. With a total investment of US$2 million, the Government of El Salvador has launched a key housing project. The funds, largely from international cooperation, seek to improve the quality of life for vulnerable families in the country.
Of this amount, US$1,000,417 has been contributed by the Government of Italy, demonstrating its commitment. The Government of El Salvador, for its part, has contributed US$590,229 in counterpart funding, in addition to the cost of the land.
The Minister of Housing, Michelle Sol, together with the Italian ambassador to El Salvador, Paolo Rozo, and the regional director of the Agencia Italiana de Cooperación para el Desarrollo (AICS) Paolo Gallizioli, delivered the first housing project to the Asociación Cooperativa de Vivienda de Usuarios por Ayuda Mutua y Consumo Unidos por la Vivienda Digna de Responsabilidad Limitada (ACOV-UVD de R. L.) located in the San Esteban neighborhood, in the Historic Center of San Salvador.
The minister of Housing said that 40 families will directly benefit. These families, who lived in precarious conditions for decades, now have access to decent housing in the San Esteban neighborhood.
Thanks to a cooperative model, families will only pay between 30% and 50% of the market value. An apartment, valued at approximately US$60,000, will have monthly payments of between US$60 and US$80.
The Italian ambassador to El Salvador, Paolo Rozo, highlighted the collaboration between both nations. He emphasized that this project is the result of joint work and commitment. The Ministry of Housing will continue to prioritize similar initiatives in the future. The goal is to continue providing comprehensive housing solutions for more salvadorans.
Comercio impulsa economía salvadoreña con US$247 millones en nuevos créditos
