The executive, through the Ministry of Economy and the Banco de Desarrollo (BANDESAL), proposed an amendment to the Law for the Creation of the Fideicomiso para la Recuperación Económica de las Empresas Salvadoreña (FIREMPRESA) to provide economic support to the merchants of the Santa Ana food center.
Likewise, a subsidy of US$3 million was designated to help vendors and according to BANDESAL's first estimates, each formal trader would benefit with up to US$4,000 dollars, while those who traded their products informally would receive US$500 each to reactivate their businesses.
BANDESAL is working on the regulations for the subsidy to be given to the merchants, which must be approved by the Trust's Board of Directors.
"In the case of the Santa Ana market, for the US$3 million that will be delivered there, we are already working on the respective regulations, which are almost ready to be approved, where we have determined the characteristics, conditions and verifications that will be made to be able to deliver it", explained Juan Pablo Durán, president of BANDESAL.
The Executive plans to make the first distribution of the subsidy to formal merchants and the second delivery would include informal vendors, which have been previously verified to have been affected by the fire, demonstrating the Government's commitment to salvadoran families.