Positive economic development in Andean state
Bolivia is one of the poorest countries in Latin America, despite being rich in natural resources with oil and natural gas reserves. In recent years the economy has developed well, yet a variety of structural problems prevent further progress, including: unfavourable geographic conditions, sharp regional inequalities, dependency on global market prices of a few natural resources, a loss-making public administration system and difficult conditions for the private sector. Since the election of President Evo Morales in 2006 was the first time that a representative of the indigenous population reached the top position of power. KfW Development Bank supports the Bolivian development agenda especially in two particular areas: water supply and waste water disposal, and sustainable agricultural development to combat poverty and to adapt to climate change.