Tuesday April 25, 2023 | 9:57 p.m.
In the midst of the escalation of the blue dollar, the Minister of Economy, Sergio Massa, signed an agreement with the Inter-American Development Bank (IDB) for a disbursement of US$75 million that will be allocated to infrastructure works to improve drinking water services in the Province of Buenos Aires. This week the head of the Treasury expects to obtain close to US$1,060 million from multilateral organizations.
As reported by the economic portfolio, the income of the foreign currency will be destined to the readjustment and construction of distribution systems, water wells, water treatment plants and complementary works.
Through the works that will be carried out in various towns in Buenos Aires, the IDB and the national government aim to benefit approximately 1.1 million inhabitants (some 256,509 households) with access to better quality drinking water provision services.
The signing took place this day at the Palacio de Hacienda. Minister Massa was accompanied by his counterpart from the Province, Pablo López, along with various Buenos Aires officials, while the IDB was represented by the Head of Operations, Denise Obara, and Marco Antonio Cevallos, Senior Specialist in Water and Sanitation of the organism.
In the midst of the currency run that the Government is facing, the disbursement of US$75 million – an amount of little weight in the reserves – represents political support from the agency towards the national administration to avoid aggravating the economic situation.
In this context, Massa hopes to finalize this Wednesday the signing of another agreement with the World Bank (WB) that will imply a disbursement of US$200 million. The minister’s entourage reported that this week he plans to agree on contributions from multilateral organizations for a total of $1.06 billion.
In addition, the economic team, led by Gabriel Rubinstein, will leave for Washington to begin the renegotiation of the agreement with the IMF in order to review the goals resulting from the effects of the drought and obtain advance payments to face the currency crisis.
