World Bank finances $70m Bolivian urban resilience projects
The World Bank has approved two loans totaling $70 million to support the Bolivian cities of La Paz and Santa Cruz de la Sierra in their efforts to reduce vulnerabilities to climate risks and to improve living conditions of more than 167,000 residents of lower-income areas.
The project includes the construction of infrastructure resistant to hydrometeorological phenomena such as mudslides and floods, including improved drainage ditches and river management works. Additionally, the project will improve neighbourhoods and public spaces and promote sustainable urban mobility.
The implementing agencies of the loans will be the Autonomous Municipal Government of La Paz, which will receive $20 million, with a maturity date of 18 years and a six-year grace period; and the Autonomous Municipal Government of Santa Cruz de la Sierra, which will receive $50 million, with a maturity date of 15 years and a five-year grace period.
