World Bank/Bolivia: More than 33,000 households will benefit from the Rural Partnerships II Project

Stocks and Financial Services Press Releases Wednesday April 19, 2017 09:13
WASHINGTON--19 Apr--World Bank

WASHINGTON, April 17, 2017 – The World Bank Board of Directors approved US$100 million in additional financing for productive rural partnerships, which will benefit nearly 33,500 households. In this new phase, the Rural Partnerships II Project (PARII) seeks to improve incomes of more rural inhabitants and thus contribute to reducing poverty in Bolivia.

With the additional financing, the project will reach nearly 28,000 new households in rural areas throughout the country through the establishment of approximately 768 productive partnerships. The financing will also be used to support 48 sub-projects of municipal, productive and service infrastructure, with more than 21,000 direct beneficiaries, or some 5,500 households.

The PAR II will continue to finance small-scale farmers and their access to markets. Additionally, it will support the strengthening of climate change resilience in rural production systems. To this end, about 75 percent of the additional resources will be invested in irrigation and efficient water usage, as well as in technical assistance in these areas during the preparation and implementation of business plans.

"We are supporting the climate-resilience efforts of the Bolivian government by incorporating this new approach in the project, which also responds to the global need to reduce vulnerability to climate change, especially in agriculture, on which food security depends. We believe that in the future, productivity will have improved, and consequently, the incomes of small-scale producers. Additionally, the capacity of this segment to respond to climate shocks will have been strengthened," said Alberto Rodríguez, World Bank director for Bolivia, Chile, Ecuador, Peru and Venezuela.

During implementation of the PAR Project, which began in 2006, more than 1,300 rural partnerships were financed, generating investments of some US$98 million and benefitting nearly 68,000 people. The project impact evaluation demonstrated that it is inclusive and that it has considerable impact on poverty reduction because it significantly increases farmers' incomes.

"In keeping with the approach of this initiative, the project will continue to encourage rural youth and women to play a leading role, acknowledging their value as dynamic actors in the country's development agenda," said Nicola Pontara, World Bank representative in Bolivia.

The US$ 100 million in additional World Bank financing covers 76.6 percent of the total cost of the project. Counterpart resources will cover the remainder: Beneficiaries will contribute 20.8 percent (US$27.2 million) while municipal governments will provide 2.6 percent (US$3.4 million). This financing is a loan from the International Bank for Reconstruction and Development with a maturity date of 21 years and a grace period of 3.5 years.

Learn more about the work of the World Bank in Latin America and the Caribbean: www.worldbank.org/lac
Visit us on Facebook: http://www.facebook.com/worldbank
Be updated via Twitter: http://www.twitter.com/BancoMundialLAC
For our YouTube channel: http://www.youtube.com/BancoMundialLAC

Latest Press Release

A Strong Rally in Gold Marks the Launch of NVM Token Sale on July 15th

- Novem NVM utility tokens will provide a discount on purchasing gold and put users in the most advantageous position to buy gold on the blockchain NovemGold, a better way to buy gold, has announced it is holding its first public sale of NVM utility...

Photo Release: EXIM Thailand Celebrates Successful Issuance of US$ 300 Million Floating Rate Notes

Mr. Pisit Serewiwattana (center), President of Export-Import Bank of Thailand (EXIM Thailand), together with joint-underwriters from the Hongkong and Shanghai Banking Corporation Limited, Mizuho Securities Asia Limited, and Standard Chartered Bank...

International Arbitration Tribunal Rules It Has Jurisdiction to Hear Agility#s Dispute with Iraq

Agility Public Warehousing Company KSCP announced today that an international arbitration tribunal constituted under the auspices of the World Bank's International Centre for Settlement of Investment Disputes (ICSID) has determined that it has...

U.REKA Batch 2 announces 8 deep tech research teams passing to Incubation program to develop innovations to drive a sustainable economy and society

Digital Ventures Co., Ltd. has revealed that eight deep tech research teams in U.REKA Batch 2 have passed to the Incubation session. The research teams have presented tech-driven research plans to add value to the economy and society, covering...

CEOs focus on upskilling their workforce to close the skills gap and boost innovation and trust, says PwC

Seventy-nine percent of CEOs worldwide are concerned that a lack of essential skills in their workforce is threatening the future growth of their organisation, according to research by PwC. This compares to just 63% in 2014—confirming that concern...

Related Topics