The national government has approved a loan contract with the International Bank for Reconstruction and Development for up to 300 million dollars to finance the project for a transition towards sustainable electricity and gas sectors, as published today in the Official Gazette. According to the decree, signed by President Javier Milei and Minister of Economy Luis Caputo, the country requested additional financing from the World Bank to expand the project's activities. This includes designing a tariff framework to incentivize new investments in backup thermal generation for renewable energies, as well as strengthening the institutional framework of the energy sector. The financing complements the original 300 million dollar loan approved in 2023 through Decree 718. The Ministry of Economy was designated as the project's executing body, acting through the Secretariat of Energy with the participation of the Undersecretariat of Energy Transition and Planning. The National Regulatory Entity for Gas and Electricity will act as a sub-executor of part of the program.
