The Minister of Economy, Luis Caputo, is in the United States to participate in the Annual Meetings of the International Monetary Fund (IMF) and the World Bank, where financing for Argentina has accumulated to a total of 8.8 billion dollars. During his visit, the financing lines that had been announced were detailed.
In a meeting with the Managing Director of Operations of the World Bank, Anna Bjerde, along with the Secretary of Finance, Pablo Quirno, the financing portfolio for Argentina was evaluated, which will amount to 2 billion dollars. These funds will be directed to social protection, education, vulnerable sectors, transportation, and electricity tariffs.
On the other hand, Caputo and Quirno met with the Managing Director of the International Finance Corporation (IFC) to discuss the portfolio of potential investments, focusing particularly on sustainable mining, renewable energies, health, decarbonization of hard-to-reduce sectors such as steel and aviation, and trade financing. The IFC will provide 3 billion dollars for these strategic sectors in Argentina.
Additionally, a working meeting was held with the president of the Inter-American Development Bank (IDB), Ilan Goldfajn, where a joint agenda was agreed upon for the economic development of the country and the protection of vulnerable sectors. The IDB will support Argentina with more than 2.4 billion dollars for the public sector in 2024, aimed at social protection, education, fiscal management, and essential energy services.
The IDB will also invest more than 1.4 billion dollars in financing for the private sector over the next two years. During the meeting, the transformative potential of Argentina's accession to the OECD was highlighted, with the IDB committing to provide technical and financial support for this process. It was also agreed to finalize the operations of the Institute for the Integration of Latin America and the Caribbean (INTAL) to optimize resources and improve efficiency in order to strengthen regional integration through new programs and responsibilities within the IDB structure.
