The World Bank has approved a series of loans aimed at economic development and poverty reduction in Latin American.
In a series of statements issued Tuesday in Washington, the bank announced loan programs to Argentina, Peru and Brazil.
The bank approved a $200 million loan to Argentina designed to improve infrastructure in the Province of Buenos Aires. The improvements include road, water, sewerage and drainage construction.
Another $200 million loan was approved for Peru to improve social programs for the poor and enhance the nation's economic competitiveness.
And a $4.8 million loan was awarded to Brazil's northern Amapa state. The loan will subsidize a program designed to reduce rural and urban poverty through environmentally sustainable projects around the Amazon river.
