The Mercosur Council approved on Thursday a $70 million fund to support development projects in Uruguay and Paraguay. The two countries have often voiced concerns about economic imbalance among the organization’s five member nations. To bring the countries to a more equal footing with Argentina, Brazil, and Venezuela, the Mercosur Structural Convergence Fund will finance programs in social welfare, disease control and prevention, microfinancing, and road-building. Mercosur is currently in summit in Rio de Janeiro.
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