In this way, the Government is granted a loan of up to US$200 million from FONPLATA to finance the “Program to Support Food Security in Argentina.”
Through Decree 550/2024 of the “Contracts” section of the Official Gazette, the approval and formalization of of a loan contract between the Argentine Republic and the Financial Fund for the Development of the La Plata Basin (FONPLATA) to finance the “Food Security Support Program in Argentinato”.
It should be noted that the main objective of this program is to contribute to the food security of families in situations of social vulnerability throughout Argentine territory.
The program is divided into two axes
- Contribution to existing cash transfer programs for food purchases.
- Administration, audit and evaluation expenses.
The official text mentions that The execution and use of resources will be carried out by the Ministry of Human Capital through the National Secretariat for Children, Adolescents and Families. The loan contract ARG-62/2024 will be signed by the Minister of Economy on behalf of the Argentine Republic. The general conditions, repayment periods, interest rates and other usual clauses in this type of contract are established.
In this way, the Government is granted a loan of up to US$200 million by FONPLATA to finance the “Program to Support Food Security in Argentina.”
The rule also authorizes the Minister of Economy to sign the Loan Agreement ARG-62/2024 and its additional documentation, as well as to agree on modifications that do not substantially affect the purpose or destination of the funds.nor increase its amount or alter the arbitration procedure.
Key aspects of the standard
According to the Official Gazette, andThe loan is part of the Government’s efforts to strengthen the food security of vulnerable families. It also highlights that the program will be implemented through direct monetary transfers and support for program management.
Finally, the Ministry of Economy will have final responsibility for signing the contract and supervising the execution of the program.
Source: Ambito
