The World Bank regional director announced that the global monetary organization will loan US$650 million to Colombia.
US$300 million will be spent on governmental expansion programs in the financial sector, director Axel F.B. Van Trotsenburg told newspaper El Colombiano.
Another US$300 million will be used to finance the construction of public transport systems in Bogota, Cartagena, Pereira, Medellin, Bucaramanga and Barranquilla.
US$20 million will go towards waste management projects, another US$20 million to the judicial system and US$8 million will be spent on "peace and development projects," Van Trotsenburg explained.
The director predicted that the growth of the Colombian economy will fluctuate between zero and a contraction in 2009.
