The European Union (EU) has granted Bolivia 117 million dollars for cooperation in the period 2021-2024, the agency reported on Monday.
With the approval of a new cooperation strategy worth around 117 million dollars (104 million euros), the European Union today confirmed its financial and technical support for the development of Bolivia, the press release said.
The funds identified by the EU will be made available as donations and will mainly be aimed at supporting national efforts to promote the fight against climate change and protect the environment through sustainable economic growth and social inclusion.
According to data, the program with Bolivia is the largest that the EU has in Latin America. With this plan, it is expected that the European Union will also provide Bolivia with new financing instruments such as mixed financing and guarantees via the European Fund for Sustainable Development Plus.
These operations will make it possible to use EU funded resources to mobilize and encourage private investment, thereby multiplying the resources available for the country’s development.
“The new Multiannual Structural Plan 2021-2024 is a ratification of the EU’s continuous commitment to Bolivia since 1995, and a review of cooperation is expected at the end of the cycle to determine the continuity of support up to and including 2027. “Announced the EU.
Since 1995 the EU has supported Bolivia with around one billion euros. Added to this is the recent signing of two financing agreements totaling around $ 60 million (EUR 50 million) for extensive coca leaf development programs and the fight against the illegal drug trade.
Most of these funds are deposited in the nation’s general treasury as part of results commitments agreed as part of the Bolivian government’s development plans.