The plans for technical cooperation include the project on the National System of Youth and Children's Orchestras, signed in June 2013
Since 1968, Venezuelan projects are backed by the IADB (Handout photo)
Saturday May 30, 2015 12:00 AM
The Inter-American Development Bank (IADB) has sponsored 347 development projects intended to improve Venezuelans' lives from 1861 to date, the multilateral body reported. The current credit portfolio for all Latin America rose in 2014 to USD 1 billion and the approvals stood at USD 426 million for the whole region.
In 54 years, financed projects for development and energy streamlining totaled 21, including a plan on "Promotion and development of renewable energy sources in Venezuela." Such plan, in the preparation stage, is intended to encourage renewable energy sources in rural communities of the Andes and south Venezuela.
From a portfolio of USD 31.8 billion, USD 7 billion were approved for Venezuela all these years. Areas such as social investment have been prioritized in foreign support. This includes a program on the implementation of the model of intervention for prevention and assistance of pregnant women, approved in December 2014, and also the plan on prevention of early pregnancy, approved in February 2011.
The plans for technical cooperation include the project on the National System of Youth and Children's Orchestras, signed in June 2013. The IADB and the Simón Bolívar Music Foundation conducted the first assessment of the impact on cognitive and socio-emotional development in the System young members after one year of involvement. As early as in September 2011, a similar project had been approved.
Projects, such as "Support to strengthen the new framework of disaster risk management" and "Implementation of the initiative on emerging and sustainable cities (ICES) in the city of Cumaná, in Venezuela," a technical cooperation plan, have received financial support.
Presently, new projects related to initiatives from Venezuelan businesspersons are being prepared. On July 22, 2014 the Framework Cooperation Agreement was entered into by the Inter-American Investment Corporation (CII) –of the IADB Group-, the Bolivarian Council for Business Integration of Venezuela (CIEB) and the Venezuelan Chamber of Businesspersons and Industrialists of Mercosur (Cavemin of Mercosur).
There is still not commitment as to the outlay. In June, CIEB will start training the interested parties.