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World Bank Announces Economic Development Loans for Latin America


The World Bank has approved a series of loans aimed at economic development and poverty reduction in Latin American.

In a series of statements issued Tuesday in Washington, the bank announced loan programs to Argentina, Peru and Brazil.

The bank approved a $200 million loan to Argentina designed to improve infrastructure in the Province of Buenos Aires. The improvements include road, water, sewerage and drainage construction.

Another $200 million loan was approved for Peru to improve social programs for the poor and enhance the nation's economic competitiveness.

And a $4.8 million loan was awarded to Brazil's northern Amapa state. The loan will subsidize a program designed to reduce rural and urban poverty through environmentally sustainable projects around the Amazon river.