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ALBA Bank to Finance New Projects
Caracas - The
Bank of the Bolivarian Alternative for the
Americas (ALBA) will allocate $17.9 million
to regional health, culture, energy projects
and $13 million to agriculture. Esteban
Martel, executive director of the Cuban
branch of ALBA Bank, says the beneficiaries
are Nicaragua, Bolivia, Cuba, Venezuela,
Honduras and Dominica.
The ALBA Salud project will invest $3.4
million on a health management center to
control safe, quality and efficient
medication supply and sales.
A second $8 million project will boost
technical and financial management of energy
resources for members of the ALBA Energy
Treaty by coordinating oil and gas,
electricity and alternative energy sources
operation.
The $6.5 million Grannacional ALBA-Culture
Project will promote scholarships, contests,
catalogues, museums and publishing plans via
awards to song lyrics, musical productions,
heritage preservation, and criticism.
Martel compared those projects to IMF and WB
policies that never allocate funds to run
literacy drives or for health improvement
while ALBA Bank breaks up with capitalist
fund allocation mechanisms and adjustment
programs.
ALBA Bank will also allocate $13 million to
agricultural development plans in Honduras,
Suriname, Guyana, Jamaica, St. Vincent and
the Grenadines, Nicaragua and Belize. |
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