It’s a statement, The IDB indicated that it will present a package of Special Development Financing (SDL) to the Executive Board in September for a total of US$700 millionto finance a “Support Program for Improving Fiscal Management and Economic Recovery.”
This reflects an increase of $200 million, which was made possible by prioritizing Argentina’s loan portfolio.
In addition, the IDB will present a US$500 million PBL (Policy-Based Lending) loan for the “Public Policy Support Program for Sustainable and Resilient Growth in Argentina,” which is an increase of US$200 million in budget support as a result of a prioritization of the programming of Argentina.
On the wholethese loans would allow IDB support to Argentina to increase from US$800 million to US$1.2 billion in the last quarter of 2022.
During the meeting, Claver-Carone and Massa also discussed the final steps before the signing of eight other loans already approved by the Bank’s Board of Directors, for a total of US$1,208 million, among which are the “Strengthening and Integration Program of Health Networks of the Province of Buenos Aires – Profir II”, for US$300 million; the “Neighborhood Improvement Program V”, for US$150 million; and the “Program to Improve Water Services in the Province of Buenos Aires”, for US$75 million.
In addition, they discussed the agreement between Argentina and the IDB for the “Program for the Development, Investment and Facilitation of Argentine Nature Tourism: La Ruta de la Naturaleza”.
IDB financing potential for the remainder of 2022 could reach additional programs totaling $725 million and, if approved, this would increase total IDB lending to Argentina this year to $2.37 billion.
Minister Massa pointed out that the technical teams are in advanced stages of discussion to define the country’s credit operations program for 2023, which is expected to total at least US$1.8 billion.
Source: Ambito
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