Spain will provide 1,95 billion US dollar (ca. 11,4 milliarder DKR) to promote the development of Latin America, Prime Minister Jose Luis Rodriguez Zapatero said Thursday at the 18th Ibero-American summit in San Salvador.
Attending the first plenary session Zapatero said the funds will be contributed to the regions Official Aid to Development.
Spanish aid to Latin America has grown by more than 50 percent from 2004 to 2007, surpassing 3,9 billion dollar. The region will continue to receive priority in the Spanish agenda of international cooperation and development, Zapatero said.
The heads of state and government of the Ibero-American nations plan to present a joint statement at a meeting of the G20 leaders on the global financial crisis in Washington on November 15.
Business leaders warned that the crisis could affect financing for key regional infrastructure projects, including roads across the continent from the Atlantic to the Pacific, and tunnel projects in the Andes.
Meanwhile, the Inter-American Development Bank (IADB) has cut its forecast of economic growth in Latin America next year to 2,5 percent from 3 percent previously, the banks chief said on Thursday.
Latin Americas economies are much better cushioned against economic shocks than they were in the past, but a reliance on oil, commodities, US demand, and migrant remittances means a feared global slowdown will hammer the region.
Kilde:www.worldbank.org
