The World Bank says it has committed US$10.2 billion this year to support Latin America and the Caribbean efforts to boost economic growth and maintain historic social gains.
The Washington-based financial institution said that the amount included resources from its International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA).
The World Bank’s IBRD and IDA “maintained its strong support for the region” by approving more than US$5.1 billion in new loans in fiscal year 2014, US$4.6 billion from IBRD and US$455 million from IDA, the bank’s fund for the poorest countries, the statement said.
“Support was aimed at generating opportunities for all through public and private sector projects that expand public services, improve regional productivity, competitiveness and integration, create new quality jobs and assist those most in need,” said the bank, adding that Haiti received US$103 million in IDA grants.
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