BUSH ADMINISTRATION REAFFIRMS COMMITMENT TO HOUSING, ECONOMIC DEVELOPMENT IN EL SALVADOR
HUD Secretary signs Memorandum of Cooperation with El Salvador's Minister of Public Works

WASHINGTON, DC - Today, the Bush Administration and Government of El Salvador reaffirmed their mutual commitment to promoting housing and economic development in El Salvador. U.S. Housing and Urban Development Secretary Alphonso Jackson and the El Salvador Minister of Public Works Jorge Neito signed a Memorandum of Cooperation (MOC) that promotes cooperation to strengthen housing in this Latin American country.

Secretary Jackson with President of El Salvador Don Elias Antonio Saca (center) and Jorge Nieto, Minister of Public Works sign a commitment to promoting housing, economic development and democracy for El Salvador.

"I am here, today, to reaffirm the President's commitment to work in partnership with the Government of El Salvador in further advancing our nations' housing and economic development issues. This Memorandum of Cooperation marks a new era in cooperation and information exchange that will lead to the betterment and to an even greater partnership for both our countries," said Jackson during a ceremony with the President of El Salvador and Chairman of the Overseas Private Investment Corporation.

HUD has a long-standing relationship with the Government of El Salvador that was strengthened after the Department provided hurricane assistance to the country in 2001. An MOC was signed by former HUD Secretary Mel Martinez in 2001, which stated that HUD and the Ministry of Public Works for El Salvador would develop cooperative activities in the areas of housing finance, construction design and technology, urban and regional economic development, national policy and research issues in housing and community development and other areas of mutual interest of both governments.

The 2001 MOC expired last year, and today's agreement will expand and build upon the success of the last MOC by promoting areas of bilateral cooperation under consideration including:

• Housing finance for low income households;
• Financing tools to afford housing;
• Construction design and technology for affordable housing;
• Housing construction regulations;
• Urban and regional economic development programs;
• National policy and research issues in housing and community development;
• Disaster Attention, and
• Other areas of mutual interest to the two governments.

Activities initiated under the 2007 MOC are conducted on the basis of equality, reciprocity, and mutual benefit. This cooperation will be implemented through one or more of the following mechanisms:

• Exchange of delegations, professionals and specialists, to include study visits, and pilot projects;
• Exchange of information, including policy studies, policy documents, program regulations and technical standards;
• Organization of joint conferences, seminars, workshops and planning meetings, and
• Joint research studies on policies, programs and tools, including technical assistance in order to implement them.

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