News

The Development Bank will finance the “National Emergency Program for Employment Generation”, which aims at contributing to the post-pandemic economic recovery by promoting temporary employment of vulnerable population by means of small-scale urban and rural infrastructure projects.

The total investment on the program is of USD 100 million and will be entirely funded by FONPLATA – Development Bank. The Fondo Nacional de Inversión Productiva y Social (FPS – National Productive and Social Investment Fund) will be in charge of the program, which was motivated by the success of earlier Urban infrastructure programs I and II, both financed by FONPLATA. These programs supported the creation of jobs in vulnerable communities and contributed to the improvement of urban infrastructure through labor-intensive small-scale interventions conducted employing local workers and micro-, small-, and medium-sized supplier companies.

This third program is of national scope, there will be a public call to all municipalities in the country to present projects focusing on street paving. The purpose of the project is to benefit as many families as possible, prioritizing the paving of accesses to public health and education infrastructures.

The program will contribute to the fulfillment of four of the 2030 Sustainable Development Goals: “Gender Equality” (SDG-5), as it has specific goals in terms of quota for women; “Decent Work and Economic Growth” (SDG-8), as it seeks to create decent jobs and  strengthen micro, small, and medium businesses; “Reduced Inequalities” (SDG-10), as it aims at increasing the income of low-income groups; and “Sustainable Cities and Communities” (SDG-11), as it seeks to enhance public areas.

11/18/2021