One part will go to financing aqueduct projects in the Northeast, and the other will go to strengthening the PBA’s digital agenda.
The Government of the Province of Buenos Aires undertakes to pay the loan in the event that it is unable to do so.
Ignacio Petunchi
Through two presidential decrees, a loan from the Andean Development Corporation (CAF) to Argentina was approved for an amount of up to US$200 million. Dollars and another of $50 of the International Bank for Reconstruction and Development (IBRD).
The CAF loan is intended to partially finance the “Aqueduct Project for Social and Productive Development“, which aims to ensure the supply of raw water for the purification and irrigation of the Northeast region of the Province of Formosa.
The decree establishes that the Ministry of Economy, through the minister or an official designated by him, will be authorized to sign the loan contract and its additional documentation. It also empowers the Minister of Economy to agree and sign modifications to the contract, provided that do not constitute substantial changes in the object or destination of the funds or derive in an increase in its amount or introduce modifications to the agreed arbitration procedure.
The decree also designates as “Executing Agency” of the project to the Ministry of Public Works, through the Undersecretary of Planning and Operational Management of Water Projects of the Secretariat of Infrastructure and Water Policy and the General Directorate of Sectoral and Special Programs and Projects of the Secretariat of Administrative Management. TOFurthermore, the project will have a Subexecuting Agency that will be the Central Program Administration Unit (UCAP), of the Ministry of Planning, Investment, Works and Public Services of the Province of Formosa.
In summary, the decree establishes the following:
- Argentina will receive a loan from CAF for an amount of up to 200 million dollars.
- The loan is intended to partially finance the “Aqueduct Project for Social and Productive Development.”
- The Ministry of Economy will be authorized to sign the loan contract and its additional documentation.
- The Ministry of Economy will also be empowered to agree and sign modifications to the contract.
- The Ministry of Public Works will be the “Executing Agency” of the project.
- The Province of Formosa will be the “Subexecuting Agency” of the project.
This decree is an important step for the execution of the “Aqueduct Project for Social and Productive Development.” The CAF loan will allow the country finance the construction of infrastructure for the supply of drinking water and irrigation in the Northeast region of the Province of Formosa.
The other IBRD loan
He International Bank for Reconstruction and Development (IBRD), and Argentina, in particular the Government of the Province of Buenos Aires, signed a guarantee contract which is a commitment in which the Argentine Republic agrees to pay lThe loans that the IBRD grants to the Government of the Province of Buenos Aires to finance the “Project to Strengthen the Digital Health Agenda in the Province of Buenos Aires“
The project aims increase access to health services and improve the coordination and continuity of care in the province’s public health network and the amount will be up to US$ 50 million.
In summary, the decree allows the Government of the Province of Buenos Aires to access a loan of 50 million dollars from the IBRD to finance a project for the digital transformation of public health in the province and the Argentine Republic undertakes to pay the loan in case that the Provincial Government cannot do it.
The key points of the decree:
- The International Bank for Reconstruction and Development (IBRD) will grant a loan of 50 million dollars to the Government of the Province of Buenos Aires to finance a project for the digital transformation of public health in the province.
- The Argentine Republic undertakes to pay the loan in the event that the Provincial Government is unable to do so.
- The Government of the Province of Buenos Aires undertakes to pay the loan in the event that it is unable to do so.
Source: Ambito
