In this line, Mariano De Miguel, president of BICE, pointed out: “In this global context, of hostilities and opportunities, rethinking the productive matrix can be useful so that our nations have weight in adding value and that the objectives, in addition to the growth, whether in terms of development and social improvement. For this, it is key to understand that, for a productive matrix to be consistent with development, it has to be linked to how it is produced, and not so much to what is produced”.
In his speech, Juan Cuattromo, president of Banco Provincia, stressed that “our role is to offer the best financial services at the lowest possible cost, being responsible with the administration of public assets.” Likewise, he pointed out that the bank had in the last three years as a key objective “the financing of production with a focus on SMEs.” “When it comes to doing so, we have coordinated different political tools that we had at our disposal, through agreements with the Ministry of Finance and Productive Development,” he added.
For his part, Pablo López, Minister of Finance of the province of Buenos Aires, stressed: “The synergy that exists between the development of financial markets and economic growth is clear, a link that is even more important in developing countries. , which need faster growth. This dynamic demands financial markets that can serve the process. We are clear that what a growth process demands makes the need to have financing for projects that are not necessarily profitable in the short term for the private sector, so that this factor includes the key role played by the state and the public banking when it comes to financing these projects that often involve greater risks and uncertainty”.
In closing, José Ignacio De Mendiguren, Secretary of Industry and Productive Development of the Nation, reaffirmed the role of public banks. “All the important national projects in the country and in the region were born in the development bank,” he stated. On the other hand, he highlighted the role that the states had during the pandemic in sustaining industry and production: “All countries face significant inflation problems, but none, like Argentina, dropped production. At this current moment, we are once again on the world’s radar due to our assets and resources, which is why we need to raise the country with more added value and a new development model”.