Latin America also need billions in response to the financial crisis

The second meeting of the Finance Ministers of the Americas, recently said that officials in response to the financial crisis and its impact on Latin America in the next few years will also need 3000 billion to $ 500 billion of development funds.

Chile said APEC Finance Ministers Velasco, the availability of this funding is one of the key issues facing the region. He expressed the hope that in 2010 Mexico Cancun economic meeting, the World Bank and the Inter-American Development Bank to increase lending to Latin America with more specific programmes.

To alleviate the financial crisis, the World Bank has granted a loan of $ 60 billion, of which US $ 19 billion for Latin America.

Participation in meetings of the Organization of American States Ministers also pledged to work together to strengthen the infrastructure, improve energy environment. Velasco, Latin American countries the cost of excessive traffic, for example, from Latin America to the United States of freight cost ratio from Europe to North America high 47%.