World Bank approves $340 million for Guatemala

The World Bank has approved a 25-year $340 million loan to help Guatemala improve the effectiveness and efficiency of public spending and to reinforce the country’s tax policy.

Specifically, the loan will help support government actions to increase the amount of income tax raised as a proportion of Guatemala’s gross domestic product from 2.7 to 3.2 percent.

It will also help increase the percentage of children under one year old who receive health and nutrition services in 83 vulnerable municipalities.

Source: Public Finance International