NEW ORLEANS − Guatemala Finance Minister Manuel H. Maza Castellanos and Inter-American Development Bank President Enrique V. Iglesias today signed documents for a $33 million loan to support the restructuring of food and agriculture production to increase the sector’s competitiveness.

The initiative, to be carried out jointly by the Ministry of Food and Agriculture and the Ministry of Economy, includes design and implementation of a competitive financing mechanism for food research and the strengthening of plant and animal sanitary services.

The project supports the design and implementation of a pilot program for direct forestry support that will compensate owners in strategic areas for environmental services by means of sustainable forestry management.

The resources will also finance development of a legal framework for integrated management of water resources and improve the regulatory framework to increase efficiency in foreign trade.