The World bank has approved a loan of $600 million to Colombia, local media reported on Tuesday.
According to Radio Santa Fe, Finance Minister Mauricio Cardenas said the loan will be aimed at strengthening Colombia’s fiscal field.
“The World Bank continues to support the Colombian government with their needs and budget, at the same time recognizing the efforts of the government and the significance that it has in terms of equity,” said Cardenas.
The loan is designed to help the government in six key areas.
1. A more progressive tax policy.
2. To increase the inter regional equity and the capacity of sub national governments.
3. To improve the social spending of older adults.
4. The strengthening of the government to assist women victims of violence.
5. Greater transparency in access to public budget information.
6. Improvements in monitoring poverty and other social indicators.
Gloria M Grandolini, World Bank Director for Mexico and Colombia stressed the World Banks commitment to growth in Colombia.
“We strongly support the Colombian governments strategy to achieve a significant reduction in inequality within the next few years,” said Grandolini.
“We are convinced that sustainable growth and equal opportunities are needed to achieve shared prosperity and reduce extreme poverty,” added the director.
Sources
- Banco mundial aprobó préstamo de 600 millones de dólares a Colombia (Radio Santa Fe)