The only trouble, investigators have found, is that the 128 people and businesses listed as loan recipients neither applied for nor received any of the money.
The expansion proposal came as a result of recommendations from applicants, loan recipients and financial aid advisers at various schools, he said.
A recent survey of Colombian loan recipients found that 77 percent earn less than $40 a week.
He said female loan recipients were far better than men at saving and using proceeds to benefit all family members.
Ms. Merlino met with the first round of loan recipients a week and a half ago in Manhattan.
International financial institutions provide loans or other assistance to national governments, and require loan recipients to implement certain policy measures.
The loan recipients range from agricultural projects to an expanding guest house.
The fund prohibits loan recipients from providing aid to any third country.
It checked the activities of loan recipients to ensure that the funds were used for their designated construction purpose.
The investigation revealed that 128 people and businesses listed as loan recipients, never applied for loans and did not receive them.
