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Bolivia gets US$293M credit from Andean lender

Bolivia gets US$293M credit from Andean lender

The Andean Development Corp. is lending Bolivia US$293 million to fund social programs and bring electricity to rural parts the country, which is South America's poorest.
Corporation chief Enrique Garcia says 85 percent of the cash will finance social projects in poor areas. He did not disclose the terms of the loan.
After inking the agreement Thursday, President Evo Morales promised the credit would be used to expand an existing poverty eradication plan. Some 33 percent of Bolivians live below the poverty line.
The Andean Development Corp. is an independent lender similar to the World Bank. Some 17 Latin American, Caribbean and European nations are members, along with 15 private Andean banks.


Updated : 2021-04-21 05:57 GMT+08:00