Washington DC, August 10, 2022 – The World Bank today approved a US$300 million loan to benefit nearly 130,000 rural communities and producer families in Bolivia. This funding will contribute to improving domestic food security, market access, and adoption of climate-smart agricultural practices.
At least 1,000 rural community associations are key beneficiaries of the Innovations for Resilient Food Systems (Rural Alliances – PAR III) project. We introduce technology to agricultural activities and provide training to manage it. In addition, approximately 1,270 rural producer organizations have formed productive alliances, valued with commercial partners, facilitated their participation in the chain and access to technical assistance providers, and improved their market, technical and organizational skills. and more equitable access. PAR III will also implement approximately 290 complementary production infrastructure subprojects.
“High inflation affecting food and energy prices, the impact of COVID-19 and climate change impacting rural producer households, pushing more people into extreme poverty, leading to hunger and global malnutrition. For this reason, in Bolivia and several other countries in the region, the World Bank is supporting investments in climate-resilient agriculture, promoting sustainable food production, and transforming food systems. I have.” Marian Faye, World Bank Director for Bolivia, Chile, Ecuador and Peru, said: “Agriculture is an important sector for the Bolivian economy and has great potential to reduce rural poverty and dependence on the extractive sector.” she said.
The World Bank has long supported rural development in Bolivia. This includes a series of phases of the Rural Alliance Project (PAR) over 16 years and the Project for Community Investment in Rural Areas (PICAR). Both projects have significantly improved rural producer organizations’ production capacity and access to markets, investments in infrastructure (nearly half of which are managed by women), training and knowledge transfer.
The new loan granted to the Bolivian multinational country matches a loan from the International Bank for Reconstruction and Development (IBRD) with a maturity of 26.5 years and a grace period of 6 years. Rural Community Organizations (RCO), Rural Producer Organizations (RPO), local governments and county governments will contribute US$51.2 million in counterpart funds to the project.
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news release
2022/LAC
Press Release Number: 2022/LAC
contact address
washington dc
Luis Carlos Perez
+1 202 629-7390
[email protected]
La Paz, Bolivia
Erica Nogales
+591 2 2613326
[email protected]