$500 million “under review”
After Claver-Carone’s harsh note in The Wall Street Journal, the same day that Economy Minister Silvina Batakis was in the United States, the IDB released a “statement of support for Argentina.” In a statement, she assures that since the arrival of Claver-Carone at the IDB, in October 2020, the IDB has disbursed more than US $ 2,557 million in Argentina, and says they were “record years”.
However, it also reiterates that “continues to review the $500 million case.” This is the loan that sparked the controversy: it is a fast-disbursing financial instrument in which freely available funds are given to the country. There is also another loan of US$300 million for policies linked to climate change.
To date, the portfolio of operations approved for the country includes 73 investment projects for US$11,766 million, 55% of which has already been disbursed. On the other hand, the Board of Directors plans to consider the approval of three more operations in the next week, which will add US$225 million more. “The IDB’s support to Argentina in 2022 continues through sectoral loans,” he clarifies. This year, they plan a program of investment operations for US$2,370 million “to be submitted for consideration” by the board of directors.
Source: Ambito
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