Colombia, Argentina, Jamaica Get WB Funds

The World Bank has approved a $500m loan to Colombia so the country can consolidate its social protection system and mitigate the impact of the global financial crisis. The 27-year loan has a grace period of 8 years and a variable interest rate based on Libor. The bank also approved a $229m loan to Argentina to help it monitor, prevent, and control the A/H1N1 influenza pandemic, as well as other preventable diseases. This is a fixed-spread emergency loan with a 30-year maturity and a grace period of 5 years. Lastly, it also approved a $200m loan for Jamaica to support the government’s comprehensive reform program to address fiscal and debt sustainability. The loan has a 30-year term, a 5.5-year grace period and a variable interest rate.