World Bank gives fresh loans to Colombia



The World Bank’s lending plan for Colombia gets another four years. The new arrangement offers an annual credit of USD1 billion to underwrite potential business ventures and boost business productivity. The successful and enduring military campaign of Colombian president Alvaro Uribe against insurgency is credited for the improvement in the investment climate, which subsequently led to a growth of 7.5 percent in 2007.

Source: World Bank extends Colombia’s USD4 bln loan program (Reuters)

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