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World Bank Will Release US$390 Million to Honduras

Last Updated on Thursday, 11 February 2010 14:09

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The Managing Director of the World Bank, Juan José Daboub, announced Wednesday following a meeting in Tegucigalpa with President Porfirio Lobo that his organization will release US$390 million in low-interest loans for social programs to Honduras. The funds, which have been frozen since the ousting of Manuel Zelaya as president on June 28, 2009, include US$190 million allocated for Honduras' highway authority, SOPTRAVI, for road construction and repairs. Much of the rest of the money will go toward teacher salaries. Mr. Daboub said that an additional US$120 million would be made available for investments in social programs. Honduras currently has an outstanding balance of loans from the WB estimated at US$500 million. (photo of Juan José Daboub courtesy Internet)


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