Puerto Rico details how $1.5B in federal funds will be used
SAN JUAN, Puerto Rico — A masked demonstrator carries a PuertoRican flag during a May Day march to protest pension cuts, schoolclosures and slow hurricane recovery efforts in San Juan, PuertoRico, Tuesday, May 1, 2018. (Photo: AFP)
Business
May 10, 2018

Puerto Rico details how $1.5B in federal funds will be used

SAN JUAN, Puerto Rico (AP) — Puerto Rico’s governor has released a plan that outlines how his administration will use $1.5 billion in federal funds to help the US territory recover from hurricanes Irma and Maria.

Ricardo Rossello said Monday that at least US$817 million will go to rebuilding single-family homes, and another US$45 million to help with mortgage payments.

He said US$36 million will be used to develop renewable energy projects for homes, US$12.5 million to build homes for the homeless and domestic violence victims and another US$15 million to promote the island as a tourism destination to help revive the economy.

The funds were awarded through the Community Development Block Grant programme.

Hurricane Maria hit the island as a Category 4 storm and caused more than an estimated US$100 billion in damage.

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