Lugano signs an agreement with El Salvador

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Michele Foletti, Mayor of Lugano, and Milena Mayorga, El Salvador’s Ambassador to the United States, announced today that the City of Lugano and the Republic of El Salvador have signed a Memorandum of Understanding on economic cooperation.

The announcement was made at the inaugural Plan B Forum, which brought toganogether the world’s top Bitcoin and Blockchain experts.

The agreement was formally signed by Mayor Michele Foletti, Deputy Mayor Roberto Badaracco, Municipal Councillors Cristina Zanini Barzaghi, Filippo Lombardi, Lorenzo Quadri, and Tiziano Galeazzi, and Municipal Secretary Robert Bregy yesterday at Palazzo Civico: H.E. Joaqun Alexander Maza Martelli, Ambassador of the Permanent Mission of the Republic of El Salvador to the United Nations Office at Geneva, and H.E. Milena

Mayor Michele Foletti said:

“Thanks to Bitcoin and the pioneering road chosen by both your Government and the City of Lugano, this collaboration was feasible, resulting in the Memorandum of Understanding of economic cooperation between Lugano and El Salvador.

“In support of our institutions and companies, Lugano Plan B should encourage cooperation and synergies. We’re curious about El Salvador’s bitcoin legalization. We aim to keep presenting initiatives with educational and research institutions and business and public partners to build knowledge and skills in our territory and boost its competitiveness.”

Ambassador Joaqun Alexander Maza Martelli, for his part, stated that the signing of the Memorandum would strengthen relations and exchanges between the two entities:

“Bitcoin and Blockchain technology generate new growth and investment prospects for our communities; it is a new alternative financial and exchange tool that promotes trade and service provision in a globalized society. This accord brings El Salvador closer to Europe”.

The Memorandum of Understanding also calls for the physical presence of an El Salvadoran government representative on the territory of Lugano, which will foster cooperation with educational and research institutions and encourage the development of initiatives related to this technology.


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