The Board of Directors of the Inter-American Development Bank (IDB) today approved USD 647.5 million in financing for Argentina, in an operation that is generated from the reallocation of previously approved resources
to the country.
This type of IDB loan, called Special Development Financing (SDL) and under the name “Program to Support Fiscal Sustainability and Growth,” will contribute to strengthening public finances and the balance of payments, reinforcing macroeconomic stability and growth.
The disbursement of USD 647.5 million, expected in early August, is the result of more than a semester of joint work by the agency’s staff with the authorities of the Finance Secretariat headed by Pablo Quirno, which also includes an agreement for new credit operations planned for the remainder of the year for an additional USD 2.195 billion.
These new project approvals will support early childhood and literacy policies promoted by the Ministry of Human Capital, in addition to improving fiscal management through reforms that improve public revenues and make public sector spending more efficient, especially through improvements in the targeting of subsidies to the most vulnerable households.
