The Inter-American Development Bank is lending Bolivia $4 million to help create 40,000 jobs over the next two years.

The loan will support Bolivia's Social Emergency Fund, created last year to implement small-scale job-creating projects in such sectors as roads, health, sewerage, irrigation, reforestation and irrigation to overcome the effects of the recession that began in 1985.

Projects covered by the loan will be limited to those with high rates of return that can contribute to increased exports, or projects that already are in advanced stages. The World Bank, five western countries and the United Nations Development Program are also supporting the program.

Bolivia will use the money to finance up to 80 percent of the cost of projects costing up to $250,000 that make make extensive use of domestic labor.

The IDB also has lent Paraguay $20 million to help provide electric service to 11,200 new users in five rural areas by incorporating them into the national electric grid.

The total cost of the program is $31.2 million. The West German development agency is providing a parallel loan of $5.25 million.

Under the program, Paraguay will build a 58-mile, 66-kilovolt transmission line between the Itaquyry substation and a new substation to be built in Catuete. In addition, 912 miles of primary and secondary transmission lines will be built in other rural areas.

The new facilities will enable Paraguay to generate enough electricity to satisfy customer demand for several decades. The program includes the purchase of vehicles, computers, radio equipment and voltage regulators

Only 46 percent of the population of Paraguay has electric service. That percentage is low compared to other countries in similar stages of economic development.