Press Release

Bolivia's higher education sector receives US$10.7 million OFID loan

38/2006 May 11, Vienna, Austria
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The OPEC Fund for International Development (OFID) today signed a US$10.7 million loan agreement with the Republic of Bolivia to co-finance an initiative to improve the coverage and quality of higher education in the country, a goal deemed high priority by government.

Towards this aim, the initiative will rehabilitate and modernize infrastructure and equipment at nine national universities located in the Departments of Santa Cruz, El Beni, Tarija, Potosí, La Paz, Chuquisaca, Pando, Cochabamba and Oruro. Works will be carried out based on each institution’s specific needs. At four universities, infrastructure ranging from classrooms, laboratories, teaching facilities and library modules, to gymnasiums, sports fields and dining halls will be built or expanded/rehabilitated. A wide range of up-to-date hardware, including specialized research and laboratory equipment, computers, servers, printers, and broadcasting and transmission equipment will be procured for eight universities.

In all, around 240,000 students and 7,400 lecturers are expected to benefit from the scheme. Remote communities will also be able to enjoy the benefits of higher learning as some of the universities will be offering on-line services such as virtual libraries and distance learning courses. In addition, the enhanced facilities will enable universities to better accommodate rising enrolment levels.

This is the 15th loan OFID has approved for Bolivia. Of these, one was extended under the Heavily Indebted Poor Countries Initiative, while 13 others helped finance projects in the transportation, agriculture, water supply and sewerage and health sectors. Additionally, five loans have been approved in support of the country’s private sector. Bolivia has also been the recipient of several grants.

Today’s agreement was signed in Vienna by HE David Choquehuanca Céspedes, Minister of Foreign Affairs and Worship of the Republic of Bolivia, and by HE Mr. Jamal Nasser Lootah, Chairman of the Governing Board of OFID.