The US$1 billion will be linked to two projects that target children and the Ministry of Human Capital will be the executing agency of the loans.
This Wednesday, the Government approved two model contracts with the IBRD (International Bank for Reconstruction and Development) for a total amount of US$1,000 million that will be divided into two projects linked to childhood. The announcements were made official by publishing the contracts in the Official Gazette through Decree 1070 and 1071/2024.
In one of the contracts to which US$500 million will be allocated, the objective will be to finance the Operation “Support for the Federal Policy to Improve Early Literacy.” The person who will execute the loan will be the Secretary of Education of the Ministry of Human Capital, which will act as the responsible administrative, financial and fiduciary area.
Meanwhile, in the second project, with another US$500 million, The objective is to finance the “Comprehensive Development of Early Childhood” Project. The objective is to improve the efficiency and effectiveness of cash transfer programs for vulnerable populations, including pregnant women and children up to 48 months, and increase their access to early childhood development services in targeted areas of the country. In this case, the contract provides for execution in four parts:
1. Improvement of monetary transfer programs for households with pregnant women and children up to 48 months.
2. Improving access of the most vulnerable population to prioritized early childhood services.
3. Strengthening the integration of human capital information systems.
4. Support to the Ministry of Human Capital in the management of the project.
In this case, the person who will execute the project will be Ministry of Human Capital with the support of different secretariats that will act as responsible for the administrative, fiduciary, procurement, environmental and social coordination, monitoring and evaluation of the Project.
Argentina also received funds from the IDB
In recent weeks, Argentina also approved two loans from the Inter-American Development Bank (IDB) that total US$2.4 billion. In these cases, it will seek to sustain electricity subsidies focused on three phases (1.1, 1.2 and 1.3) and will guarantee access to electricity for vulnerable households in the Buenos Aires Metropolitan Area. It will also improve technical and administrative capabilities to ensure the sustainability of the electricity sector.
Source: Ambito
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