San Alberto, Paraguay source of economic income of the district. San Alberto, Paraguay San Alberto is a city in the Alto Paraná department of Paraguay. It is one of the districts of Northern Alto Paraná and is located about 439 km. from the capital Asunción. San Alberto has seen a rapid development and today is the main city in Northern Alto Paraná. The city was founded by Alberto Fernández Valenzuela, a captain of the Paraguayan navy, who was president of the Empresa Colonizadora Industrial Mbaracayu S.A., initially was known as Gleba 6 and belonged to the district of Hernandarias. The inhabitants are mostly
Economy of Paraguay Foreign investment in Paraguay nearly disappeared in 2002. After direct foreign investment of US$84 million in 2001, only US$9 million in investment came from abroad in 2002. This drop was largely the result of the financial crisis in Argentina and the banking collapse in Paraguay. Direct foreign investment rebounded in 2003, reaching US$90.8 million for the year. Paraguay has depended on the International Monetary Fund (IMF) and World Bank for economic development assistance. The World Bank has promised Paraguay assistance totaling US$325 million between 2003 and 2007. Projects currently underway in Paraguay aim to improve education, transportation, and rural development.