The World Bank approves disbursements for US$450 million for Argentina

The World Bank approves disbursements for US$450 million for Argentina

Massa’s expression is also related to the need for dollars that the Central Bank (BCRA) at this time, with a view to the next evaluation of the goals of the International Monetary Fund (IMF). In fact, one of the main announcements made by the minister the day he took office announced a reserve recovery plan, which includes the objective of drawing money from international credit organizations to the country. These two WB projects go in that direction.

The first, the projectImproving Inclusion in Secondary and Higher Education by Results” supports the national Progresar scholarship program, which currently reaches 1.4 million vulnerable young people in order to accompany them and encourage them to finish their studies. It is a fixed margin loan, repayable in 31.5 years and has a grace period of 8 years.

While the project Habitat and Urban Land It will be implemented in 40 municipalities throughout the country to improve living conditions in 17,000 homes through urban growth planning and the provision of better infrastructure and services in villas, informal settlements, and degraded areas.

The purpose is to facilitate access to plots of land in safe and environmentally sound urban areas and will provide municipal governments with more efficient instruments for urban land management. Likewise, in vulnerable neighborhoods, the connection to basic services such as potable water, sewer networks, gas, and electricity will be provided, and social integration will be promoted with the construction of public infrastructure and community facilities.

This is a variable spread loan, repayable in 32 years and has a grace period of 7 years.

Source: Ambito

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