Op-Ed: In P.R.’s federal funds stalemate, both sides have share of responsibility
March 6, 2019
With the ubiquitous discussion as to the fate of the colossal federal funding currently being disbursed by the Federal Emergency Management Agency and the $8 billion-plus CDBG-DR funds by U.S. Housing and Urban Development, the court of public opinion has already placed warnings on the recipient, the government of Puerto Rico. But in all fairness, […]
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Estudios Técnicos: Reconstruction funds to drive 4.2% economic growth in ’20
February 11, 2019
The release of $1.5 billion in post-Hurricane María CDBG-DR reconstruction funds will spur a positive momentum in Puerto Rico’s economy, which should grow by 4.2 percent in fiscal year 2020, and will remain positive until 2022, according to new estimates by Estudios Técnicos Inc. “This week the [U.S.] Department of Housing announced the release of […]
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Op-Ed: Put Puerto Rico first
November 30, 2018
During the past few months a narrative has taken hold, on both sides of the political spectrum, that Puerto Rico is “using federal disaster relief funds to pay bondholders.”
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FEMA assigns $11M reimbursement to P.R.’s emergency management agency
November 21, 2018
COR3 Executive Director Omar J. Marrero said the funding falls under FEMA’s Category B - Emergency Protection Measures.
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FEMA, COR3 announce $285M in federal grants to P.R.
November 20, 2018
These awards bring to $4.3 billion the amount of funds obligated under FEMA’s Public Assistance program.
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4 federal agencies grant $54.7M in funds for ongoing recovery efforts
November 5, 2018
The U.S. Department of Health and Human Services, the Department of Agriculture, the Defense Logistics Agency and U.S. Department of Commerce Minority Business Development Agency recently allocated $54.7 million in funds for Puerto Rico.
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FEMA awards $14.2M in recovery funds to PRASA
October 24, 2018
The funds come from FEMA’s Public Assistance Program, and are destined to cover the expenses PRASA has incurred to provide security services.
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FEMA OKs another $35M+ for P.R. recovery and reconstruction efforts
October 11, 2018
The funds are available to Puerto Rico under FEMA’s Category B, or Emergency Protection Measures.
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330 Centers receive $12.8M in CARE Recovery Funds
September 10, 2018
These non-recurring funds must be used for minor alterations, renovations and equipment purchases and to continue to strengthen the Red 330 clinics for future emergencies or disasters.
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FEMA OKs $110M in additional funds for PREPA, Central Recovery Office
August 23, 2018
To date, the FEMA Public Assistance program has obligated more than $3.4 billion in total funding to the government of Puerto Rico and municipalities, the federal agency stated.
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U.S. Department of Commerce invests $1.6M to support business growth in P.R.
July 6, 2018
U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.6 million grant to the Puerto Rico Trade and Export Company.
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NY Fed working closely with philanthropic community in P.R./USVI
June 21, 2018
The Federal Reserve Bank of New York vowed to continue to work closely with financial institutions to help take full advantage of the Community Reinvestment Act.
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FCC OKs additional funding to restore communications networks in PR/USVI
May 30, 2018
The Federal Communications Commission approved additional immediate funding to accelerate the restoration of communications networks in Puerto Rico and the U.S. Virgin Islands that were damaged and destroyed during the 2017 hurricane season, it confirmed.
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P.R. receives $16B in federal funds for recovery efforts
February 10, 2018
Puerto Rico Gov. Ricardo Rosselló and Resident Commissioner Jenniffer González announced an allocation of $16 billion in federal funds for the recovery of the island after Hurricane María.
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Op-Ed: ’09-’14, Huge inflow of resources with no growth
March 4, 2016
In the years between 2009 and 2014, the economy of Puerto Rico had an inflow of funds (federal government and other sources) of about $110 billion.
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