FIAES ANNOUNCES INVESTMENT OF $5.4 MILLION TO IMPLEMENT 33 SOCIO-ENVIRONMENTAL PROJECTS, A RECORD NUMBER FOR ENVIRONMENTAL RESTORATION IN EL SALVADOR

PRENSA FIAES

San Salvador, August 29, 2019. The Environmental Investment Fund of El Salvador (FIAES) launched 33 ecosystem restoration projects, which will be executed in eight priority territories, with an investment of U$5,415,275.64, a figure that surpasses the record of investments made by our institution in 26 years of work for the environment. The announcement of the new investment was made by Fernando Andrés López Larreynaga, Minister of the Environment and President of FIAES, and Jorge Oviedo, Executive Director of the fund.

For the 2019-2020 implementation period, 28 new projects were generated in the 40th to 48th calls and one project in the second execution phase corresponding to the 33rd call. With this investment, FIAES has a direct impact on the restoration of protected natural areas, the strengthening of sustainable agriculture and cattle ranching and the protection of marine coastal resources, especially sea turtles and mangroves of the Salvadoran coasts.

Projects will be executed by entities that qualified for funding, including non-governmental organisations, adescos, associations of municipalities, associations of producers and fishermen. Of the total funds invested, FIAES will disburse US$3,007,835.76 and our implementing partners will provide a counterpart of US$2,407,439.88.

Restoration activities will be carried out in the following territories: Cerrón Grande Wetland Complex Ramsar Site, Conservation Area Los Cóbanos,  El Imposible Conservation Area - Barra de Santiago, Apaneca Biosphere Reserve - Ilamatepec, Xiriualtique-Jiquilisco Biosphere Reserve, Jaltepeque Ramsar Site Complex, Nahuaterique Conservation Area and Gulf of Fonseca Conservation Area.

Special projects

In this period, FIAES will develop four special projects, so called because the actions have a national impact and responds to requirements of the Ministry of Environment and Natural Resources (MARN). The first project focuses on the restoration of two important wetlands such as the Olomega Lagoon and the Metapan Lagoon, the second will support the performance of protected natural areas personnel by equipping them with national resource rangers and building a pre-release enclosure for endangered or threatened wild species.

Two projects are aimed at the production of 1.1 million fruit and forest plants, through the implementation of 3 nurseries located in the departments of La Libertad, San Vicente and San Miguel. The total amount of the 4 projects is US$643,828.00, of which FIAES contributes the amount of US$483,520.00, and the counterpart of MARN for a value of US$160,308.00.

56,836 linear meters of slope irrigation ditches will be established, living barriers and stone barriers for soil and water conservation, projecting the infiltration of an estimated 7,207,603 cubic meters of water into the water table in vulnerable territories of the Salvadoran dry corridor.

With the different works and practices for sustainable agriculture that are implemented will improve the economy and family nutrition, added to the planting and maintenance of 404,704 grafted fruit and coffee trees that will contribute to the increase of the country's plant cover with the plants established in the productive systems and the plants produced in the nurseries (of 1.1 million fruit and forest plants).

In the coastal zone, the incubation of 821,854 eggs of the four species of sea turtle that nest on our beaches and the release of at least 698,575 turtle hatchlings is expected. All these actions benefit families with the generation of green jobs, with a total of 108,900 wages and 82 permanent jobs.

The Funds that FIAES will invest in the projects come from environmental compensations made by private companies, funds from the Tropical Forest Conservation Convention (TFCA) and the PL480 program.

About FIAES

FIAES is a socio-environmental fund that leads restoration processes in priority areas of El Salvador.  It is an entity that manages, administers and invests financial resources in environmental projects. It was created by a natural external debt reduction agreement between the Government of El Salvador and the United States.

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