The Inter-American Development Bank (IADB) approved a US$1.3 billion
credit for Colombia to be invested in the fight against unemployment
and improvement of the infrastructure, Colombia’s Finance Minister
Oscar Ivan Zuluaga announced Friday.
The IADB is currently meeting in Colombia’s second largest city Medellín and discussing how to confront and overcome the global financial crisis.
Colombia, dor the first time in ten years, saw its GDP contract in the last 4 months of 2008, the country’s authorities announced Thursday.
The granted credit will be used on infrastructure projects with “high social impact” and should give an impulse to employment in the construction sector.