The Minister of Economy, Luis Caputo, accompanied by the Secretary of Finance, Pablo Quirno, met with the President of the Inter-American Development Bank (IDB), Ilan Goldfajn, who confirmed that the entity will finance Argentina with $3 billion. Goldfajn also noted that IDB Invest will provide financial support to the Argentine private sector of over $1.4 billion in the next two years.
The allocated funds are aimed at strengthening social protection, improving primary education, optimizing fiscal management, and expanding access to essential energy services, with special attention to the most needy households. Additionally, the transformative potential of Argentina's membership in the Organization for Economic Cooperation and Development (OECD) was highlighted.
As part of Caputo's visit to the United States, it was reported that the World Bank and the IDB will disburse a total of $8.8 billion for Argentina. The IDB expressed its commitment to provide significant technical and financial support to the country during this process. It was also agreed to start the process to finalize the operations of the Institute for the Integration of Latin America and the Caribbean (INTAL), with the aim of improving joint efficiency.
During his trip, Caputo met with the Managing Director of Operations of the World Bank, Anna Bjerde, who confirmed financing of $2 billion for Argentina. These funds will be allocated for social protection, education, assistance to vulnerable sectors, and improving access to transportation and electrical services.
In another meeting, Caputo and Quirno met with the Managing Director of the International Finance Corporation (IFC), Makhtar Diop, agreeing on a work agenda for the economic development of the country and the protection of vulnerable sectors. The IDB will provide over $2.4 billion for Argentina's public sector and committed to strengthening the regional integration agenda through new programs and responsibilities in its structure.
Additionally, possible investments in Argentina over the next two years were discussed, focusing on sectors such as sustainable mining, renewable energies, health, decarbonization, and trade financing. Disbursements of fresh funds from international organizations will aim to drive the country's economic development and protect the most vulnerable sectors.
