Within the framework of the Argentina-U.S. Strategic Forum held in Washington, D.C., the Center for Strategic & International Studies (CSIS) issued the report “A Preliminary Assessment of Argentina’s Accession to the OECD” which highlights the reforms implemented as from 2016 by the National Government and supports Argentina in becoming a member country of the OECD.

At the meeting, the Secretary of Economic Policy, Miguel Braun, accompanied by the Undersecretary and representative of the Ministry of Treasury before the OECD, Marcelo Scaglione, talked about the progress done and the grounds for the project of Argentina’s accession to the OECD before an audience of representatives from the Executive Branch, the Legislative Branch, the private sector of the United States and diplomats from different Embassies of the OECD member countries.

Both officials were part of a delegation which comprised Congressmen Luciano Laspina, Ezequiel Fernandez Langan, Karina Banfi and Marco Lavagna; Senator Federico Pinedo; and the representatives of the private sector, who showed their commitment towards this strategic project for the country.

Link to the complete report:

https://www.csis.org/analysis/preliminary-assessment-argentinas-accession-oecd

Link to the event:

https://www.youtube.com/watch?v=mwbyJhOq7IU&feature=youtu.be

The resources granted by the Central American Bank for Economic Integration (CABEI) shall be allocated to infrastructure works and teaching training

San Salvador de Jujuy, April 26, 2019. Within the framework of the CABEI Board of Directors Meeting, the “Program for the Improvement in the Access and Quality of Education” (PROMACE, for its acronym in Spanish) was approved. The program will allocate USD 67 M to the extension of the education coverage in the Province through improvements in infrastructure and the modernization of the education system.

The financing shall be aimed at the improvement and extension of 123 education centers, equipment for 230 school meals, connectivity for 783 education institutions and pedagogical equipment for 29,480 teachers. In addition, the school curriculum will be redesigned and 27,908 teachers will receive training courses. The strengthening of the Ministry of Education will be financed through the modernization of the institutional administration, the support to the program and the introduction of a system of control and evaluation of results.

The operation is supported by the Under-secretariat of International Relations of the Ministry of Treasury, the provincial authorities and the technical team of the international organization. The financing approved by the CABEI constitutes the 33.2% of the total investment of PROMACE, estimated in USD 202 M under a co-financing scheme with the Development Bank of Latin America (CAF).

The CABEI is one of the main financing sources for the development in the region, promoting investment projects in strategic sectors such as infrastructure, energy, human and rural development, among others.

The GCF will grant for the first time a credit to an Argentine bank to promote the efficiency in the production and use of renewable energy

Buenos Aires, April 28, 2019. The Minister of Treasury, Nicolás Dujovne, and the Ministry of Production and Labor, Dante Sica, signed, together with the representative of the Inter-American Development Bank in Argentina, Jose Luis Lupo, and the Vice President of the Investment and Foreign Trade Bank (BICE, for its acronym in Spanish), Federico Cafasso, a loan agreement for USD 100 million aimed at the project “Promotion of Risk Mitigation Tools and Investment Financing in Renewable Energy and Energy Efficiency”. In addition, the loan includes USD 3 million for technical cooperation aimed at research and technical training.

The loan will be directly granted by the BICE or through financial institutions and the final beneficiaries will be Argentine SMEs investing in renewable energy and energy efficiency projects.

“This is a key funding for the BICE because it will enable us to strengthen the financing of renewable energy projects, a strategic sector for the sustained growth of the country”, Francisco Cabrera, President of the BICE, said.

The operation is the result of the negotiation by and between the Ministry of Treasury, the BICE and the Inter-American Development Bank before the Green Climate Fund, and constitutes a milestone in international funding, which will contribute to the Argentine Government’s objective of increasing in 20% the participation of renewable energy in the electricity consumption in 2025 and reducing in 10.2% the total final energy consumption in 2030.

The Ministry of Treasury reports it received USD 1 billion, nominal value, in offers for LETES due on 11/29/2019.

For the total offered, the Ministry sold USD 750 million, nominal value, the cut-off price was of USD 968.50 for every USD 1,000, nominal value, which represents a Nominal Annual Rate of 5.47% and an Annual Effective Internal Rate of Return of 5.53%. The cut-off price offers at the Competitive Stage were distributed on a pro-rate basis by a factor of 68.1754450947926%.

The Ministry received a total of 5,074 purchase orders.