April 7, 2008 Fact Sheet: Latin America Infrastructure Development Program Update In July 2007, Secretary Paulson announced the creation of an infrastructure development program to increase investment in infrastructure projects in Latin America and the Caribbean (http://www.ustreas.gov/press/releases/hp482.htm). The United States, in partnership with the International Finance Corporation (IFC), a member of the World Bank Group, is working to catalyze private investment in infrastructure in Latin America. The goal of the program is to partner with the private sector to identify, structure and launch sustainable infrastructure projects. The United States, Brazil, the IFC and the Inter-American Development Bank and other partners have contributed a combined $12 million (the U.S. contributed $4.6 million) to date, with additional contributions of at least $8 million envisaged in the next 1-2 years. The contributions will be used to:
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