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World Bank Approves Millions for Latin America

The World Bank has approved $257 million in loans for business development in Colombia and a project designed to improve the country's environment.

In a statement issued Thursday, the bank says its board of directors allocated $250 million to fund a business productivity and efficiency project designed to create businesses, improve their access to financing, and increase overall productivity in Colombia.

The Bank allocated another $7 million to Colombia for a sustainable development project, aimed at reducing air and water pollution, improve hygiene and urban environmental management.

The bank is also loaning El Salvador $27 million to support a poverty reduction program known as Red Solidaria, designed to help the poorest Salvadorans by improving health, nutrition and education in the country.

Some information for this story provided by AFP and Reuters.