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Guatemala and IDB sign $40 million for emergency assistance

Guatemala Finance Minister Pedro Miguel Lamport and Inter-American Development Bank Executive Vice President K. Burke Dillon today signed documents for a $40 million loan to Guatemala for reconstruction and repair of public works and preventive measures against flooding.

The program finances recovery efforts from destruction caused by flooding resulting from the El Niño phenomenon, as well as the devastation due to Hurricane Mitch.

The program will help finance drainage works in rural and urban areas, cleanup, canalization, and riverbank protection to prevent flooding, as well as rehabilitation of drainage ditches and sewerage systems, road improvements, repair and rebuilding of bridges, and the protection of schools and historic and archeological sites.

Additional rehabilitation and permanent rebuilding operations under the program will be determined by the Bank and the borrower in such areas as transportation, sanitation, and other basic sectors.

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