Wednesday, February 13, 2008

Bolivia: Bolivia and World Bank sign $77.5 million loan deal

Bolivia and the World Bank have signed a US$77.5 million loan agreement to finance five projects in the areas of education, agricultural development, rural investment, sustainable development, and natural disaster prevention that will create opportunities for and improve the quality of life of the poorest sectors of the population.

The loan agreement was signed at World Bank headquarters by Bolivia’s Ambassador to the US, Mario Gustavo Guzman, and by Carlos Felipe Jaramillo, World Bank Director for Bolivia, Ecuador, Peru, and Venezuela, in a ceremony attended by Felix Alberto Camaraza, World Bank Executive Director for Bolivia.

“The Government of Bolivia is committed to the poorest sectors of its population and the World Bank’s support is based on a dialogue grounded in the country’s development priorities as defined in the National Development Plan of President Evo Morales’ administration,” said Bolivian Ambassador Mario Gustavo Guzm├ín.

The agreement includes US$20 million for the Second Participatory Rural Investment Project; US$20 million for the Lake Titicaca Local Sustainable Development Project; US$15 million for the Land for Agricultural Development Project; US$10 million for the Municipality of La Paz Secondary Education Transformation Project; and US$12.5 million for the Prevention and Management of Natural Disasters Project.

Source: World Bank