Saturday April 15, 2023 | 7:25 p.m.
The World Bank added this Saturday to the list of multilateral organizations that have been giving their support to Argentina, in the midst of the crisis affecting the country, aggravated by the impact of the drought.
The Minister of Economy, Sergio Massa, held a meeting with the new Managing Director of World Bank Operations, Anna Bjerde, in the framework of the Spring Meeting of the IMF and the WB that takes place in Washington.
“Very positive meeting with Anna Bjerde, the World Bank’s new Managing Director of Operations,” said Massa.
He stressed that the IDB official “confirmed the solid support of the institution to our country, especially after the strong impact of the drought, which translates into projects being prepared for May and June for 950 million dollars.”
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.
This support is added to the support obtained by the country from the Inter-American Development Bank (IDB).
The multilateral organization approved a US$200 million loan on Friday, included in a line that provides for a total financing of US$600 million, which will be allocated to investment and health projects.
The announcement was made after a meeting held by the head of the Palacio de Hacienda, Sergio Massa, with the head of the agency, Ilan Goldfjan.
This is the first individual operation of a conditional credit line for investment projects (CCLIP) for US$ 600 million.
Massa also signed a US$500 million financing line from the Saudi Development Fund.
In this way, it adds fresh dollars to sustain the Central Bank’s reserves during the election year and in the face of the decline caused by the historic drought.
The loan will be used to cover the financing of infrastructure works and was signed by Massa and Sultan Abdulrahman Al Marshad, CEO of the Saudi Fund for Development.
