WORLD BANK: World Bank finances reconstruction and local development in Guatemala

0 Comments | M2 Presswire, July, 1998

M2 PRESSWIRE-30 July 1998-WORLD BANK: World Bank finances reconstruction and local development in Guatemala (C)1994-98 M2 COMMUNICATIONS LTD RDATE:290798 The World Bank has approved a US$30 million loan to Guatemala for a Reconstruction and Local Development Project. The project will finance small productive, cultural, social, and economic infrastructure sub-projects formulated and managed by local communities.

The project objective is to improve the living standards and sustainable self-development of approximately 500,000 people, the majority of whom are indigenous and living in extreme poverty. Community sub-projects will be carried out in 16 municipalities of the Departments of San Marcos and Huehuetenango. The beneficiaries of the projects will collectively...