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| 12/19/2008 12:00:00 AM

Colombia: World Bank Supports Social and Environmental Objectives with US$1.2 Billion

Dec 18 -- The World Bank Board of Executive Directors approved today a three-loan package for Colombia totaling US$1.2 billion to support strategic government programs to cope with the effects of the global economic crisis.

The Families in Action program will receive US$636.5 million to expand assistance to the poorest sectors of the population. Meanwhile, US$600 million have been approved to support sustainable development and natural disaster risk management (US$450 million and US$150 million, respectively).

“The operations recently approved are part of the alliance between Colombia and the World Bank, which seeks to continue promoting social and economic development with environmental protection,” said Axel van Trotsenburg, World Bank Director for Colombia and Mexico. “This financing arrives in an opportune moment taking into consideration the complex global financing panorama,” he added.

If you want to read the full press release, just click here.
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EDICIÓN 1855

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