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Thursday, March 30, 2023

Massa met with the World Bank and achieved a commitment for the country to receive US$1,000 million

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In fact, in Washington, the WB board of directors will discuss the Argentine case in part of its sessions this Friday, and it is expected that there will be news with two credit projects for the country, this afternoon, to reduce school dropouts by supporting a scholarship program for US$300 million, and another to support urban development and more equitable access to housing for vulnerable sectors for US$150 millions.

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According to official sources, Massa presented how the Argentine government is advancing in its plan to stabilize macroeconomic conditions.

Meanwhile, Van Trotsenburg “recognized the importance of increasing Bank support at a time when budget allocations are restricted and will explore increasing Bank financing for critical projects for those living in vulnerable situations, such as the Matanza-Riachuelo river basin sanitation project “.

Massa and Van Trotsenburg promised to actively manage the execution of the loan portfolio, including the management of counterpart financing, they indicated from the World Bank, and remarked that “all these measures are expected to allow for additional strong disbursements.”

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The WB official indicated that “The Bank is preparing projects to benefit the most vulnerable for US$1 billion in the first six months of 2023.”

The World Bank approved new loans for a value of US$1.34 billion in 2022.

The Bank’s portfolio in Argentina is valued at US$7,560 million and includes 22 projects for a total of US$7,100 million, plus an IBRD guarantee of US$466 million, the multilateral organization specified.

Source: Ambito

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