In line with its austerity plan and fiscal efficiency, the Government of Javier Milei is implementing the elimination of two new trust funds: the Socio-Urban Integration Fund (FISU) and the Scientific and Technological Promotion Fund (FONDOTEC). Both trusts, created in previous administrations, managed nearly $200 billion in previous years and were marked by an alarming lack of efficiency and transparency.
Presidential spokesperson Manuel Adorni announced the measure on his X account:
"The National Government eliminated the Trust Fund for Scientific and Technological Promotion (FONDOTEC) and the Socio-Urban Integration Fund (FISU). FONDOTEC only used 33 million of the more than 28 billion pesos allocated to it between 2022 and 2023. Meanwhile, it was found that FISU was buying contaminated land, awarding projects to cooperatives without a track record, and delaying their development. With these closures, 24 funds have already been eliminated by this administration. End."
At the Casa Rosada, they emphasize that the dissolution decree for FISU is already ready. The trust, which was led by Fernanda Miño—an activist from the Frente de Patria Grande, a space headed by the far-left representative, Juan Grabois—managed a total of $188.411 billion during 2024. It was created under Law 27.453 of 2018 and Decree 819 of 2019, with the aim of financing the urbanization of popular neighborhoods included in the RENABAP (National Registry of Popular Neighborhoods).
However, its operation caused serious doubts. Only in 2024, the fund allocated $4.938 billion to current expenses—such as salaries and services—and $28.707 billion to capital expenses, which included transfers to provinces, municipalities, and private entities. Current authorities point out that many of these projects were awarded to cooperatives without a proven track record and with unjustified delays in their execution. Additionally, purchases of contaminated land were detected.
