World Bank Offers Aid to 3 Latin American, Caribbean Nations

The World Bank has announced assistance for Argentina, Jamaica and St. Lucia.

The Washington-based lender is providing a $480 million loan to support two key cash transfer programs that target the unemployed and households with children under 18 years of age in Argentina. The loan will also be used to provide technical assistance for effective implementation and monitoring of the cash transfer schemes. 

The bank is also lending $15 million to bolster energy efficiency and security in Jamaica. The project seeks to reduce Jamaica’s dependence on petroleum products by developing policies and plans on renewable energy. 

Meanwhile, St. Lucia will receive $15 million in World Bank credit to improve the island’s disaster risk management, as well as repair infrastructure ravaged by Hurricane Tomas last year. The funding will be used to rehabilitate schools, hospitals, community centers and roads, and improve the capacities of the National Emergency Management Organization and the ministries of Finance, Housing, Urban Renewal and Local Government, and Physical Development and Environment.

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About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.