The resources will support the Venezuelan National System of Youth and Children's Orchestras and Choirs by financing the construction of a headquarters building in Caracas as well as the strengthening of the music teaching program and the system's financial and institutional capacities.

The program, to be carried out by the Ministry of Family Services,* is designed to improve the lives of low-income youth and offer artistic and intellectual opportunities that they normally would not be able to afford. It will be carried out by the Ministry of Family Services through the Fundación del Estado para el Sistema Nacional de las Orquestas y Coros Juveniles e Infantiles de Venezuela (Fesnojiv).

Venezuela has 60 music centers across the country serving 57,000 children and adolescents.

The IDB loan is in local currency for a 25-year term, with a four-year grace period, at an annual interest rate of 4 percent. Local counterpart funds total $8 million.