He Economy Minister Sergio Massaheld a meeting with the new World Bank Managing Director of Operations, Anna Bjerde, in the framework of the Spring Meeting of the IMF and the WB that takes place in Washington, USA. There they announced additional financing for “projects being prepared for May and June for US$950 million.”
“very positive meeting with Anna Bjerde, the new Managing Director of Operations at the World Bank. He ratified the solid support of the institution to our country, especially after the strong impact of the drought, which translates into projects in preparation for May and June for 950 million dollars”, Massa said after the meeting through his social networks.
We had a very positive meeting with the new Managing Director of Operations of the @BancoMundial @Bjerde_Annathe vice president for Latin America @CF_Jaramillothe Executive Director for Argentina and the Southern Cone @CeciliaNahon and the representative in the country @_MarianneFay. pic.twitter.com/YxJD87FRha
— Sergio Massa (@SergioMassa) April 15, 2023
Also present at the meeting were Felipe Jaramillo, Vice President of the World Bank for Latin America and the Caribbean; the Executive Director for Argentina and the Southern Cone, Cecilia Nahón; and Marianne Fay, representative of the World Bank in our country.
Greater financing for Argentina
Sources from the Ministry of Economy informed Reuters that the issuance of two dollar bonds backed by the World Bank and the Development Bank of America Latina for a total of US$1.2 billion, of which the organizations will support 60%.
The economy minister is in the United States, where this Saturday he met with the deputy managing director of the IMF, Gita Gopinath. As it was learned, from the meeting, the Argentine economic team will begin to work with the staff of the international organization in a new modification of the current agreement with the Fund to strengthen the economic policy framework and adapt it to the new situation of the country.
Also, on his tour, Massa also announced the 42% increase in Progresar scholarships starting this month, a measure that could be taken thanks to an agreement with the World Bank, for a disbursement of US$300 million. He also managed to make the first investment for Argentina from the Saudi Fund for Development (SFD) for US$500 million.
Furthermore, in a meeting with the Inter-American Development Bank (IDB) A financing agreement was reached for agricultural health, waste management and maritime sustainability. The agreement was signed by the Minister of the National Economy, Sergio Massa, who also closed a disbursement to support small wine producers, as had been stated by the Secretary of Agriculture, Livestock and Fisheries, Juan José Bahillo.
