The President of the Development Bank of Latin America and the Caribbean, Sergio Díaz-Granados, announced on Monday an immediate $550 million loan to provide liquidity to Bolivia.

The news was communicated directly to the new president of the South American nation, Rodrigo Paz Pereira, as the “first concrete operation of the Economic Recovery Support Program (PAREC).”

 The president of CAF stated: “We want to support the new government in transforming structural challenges into concrete opportunities for sustainable growth, strengthening macroeconomic stability, improving regional connectivity, and prioritizing the well-being of millions of Bolivians.”

With this loan, the multilateral institution becomes the first to present a concrete assistance plan to the country under the new government, which took office on November 8.

Díaz-Granados clarified that the funds will ensure compliance with urgent financial commitments and “generate certainty in the implementation of the government’s economic program.”

This loan approved for Bolivia is part of a larger package of up to $3.1 billion, planned for the next five years and subject to approval by the CAF Board of Directors.

These initiatives are based on four pillars: “macroeconomic stabilization, national and regional integration, well-being and social inclusion with a gender focus, and environmental sustainability and climate action.”

M.Pino

Source: xinhuanet

(Reference image source: Matheus Oliveira on Unsplash)

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La entrada CAF approves a $550 million loan for Bolivia apareció primero en Bitfinance.