Bolivia gets credits to fight poverty

15:42, May 20, 2010      

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The Bolivian government Wednesday issued two decrees concerning two credits for a total of 40 million U.S. dollars for poverty relief.

Bolivian Planning Minister Viviana Caro said Wednesday during a press conference that the Fund for International Development, a subsidiary of the Organization of the Petroleum Exporting Countries (OPEC), gave Bolivia a credit for 10 million dollars.

The money will be used to develop infrastructure projects in the municipalities suffering from extreme poverty.

"Particularly, we will continue with this work in the Chuquisaca valley and other valleys, where the index of extreme poverty is over 80 percent," Caro said.

The OPEC credit is for 20 years with an annual interest rate of 1.75 percent. The agreement will be signed in Austria.

The second credit is from the Inter-American Development Bank (IDB) for 30 million dollars, of which 55 percent will be a donation.

Bolivia will get this credit in the third quarter of this year.

According to the Jubileo Foundation, among Bolivia's 10 million inhabitants, some 6 million are poor and 3 million of them are extremely poor.



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