Financing will allow for the expansion of the programs “Hacemos Futuro”, “Progresar” and “Tarifa Social”. It will benefit more than 3 million people.

June 19, 2019

The Inter-American Development Bank (IDB) approved financing for USD 600 million aimed at the second stage of the Program to support the fairness and effectiveness of the social protection system, which will allow for the expansion of policies aimed at Argentina’s vulnerable population.

In this sense, the beneficiaries of these policies will have more possibilities to access registered jobs in the labor market, to promote school progress and foster comprehensive working training over technical and socio-emotional competences. Likewise, the program includes the improvement of access and efficiency in the distribution of subsidies on public transportation services.

This program will be implemented throughout the country and will directly benefit more than 3 million vulnerable people who participate in the different social projects.

The Under-secretariat of International Financial Relations of the Ministry of Treasury led the negotiations before the IDB with the purpose of achieving the approval of this multi-stage program. The purpose of the National Government is to consolidate its state policy within the area of social protection to achieve a more effective and inclusive social plan in 2021, in line with the 2030 Agenda in Argentina and with the Sustainable Development goals.

June 19, 2019

The World Bank approved additional financing for USD 100 million for the Province of Buenos Aires within the framework of the Urban Transformation project of the Buenos Aires Metropolitan Area. The main goal is to improve the living conditions and basic services in the neighborhoods of Villa Itatí and Villa Azul (Quilmes district) and Carlos Gardel (Morón district).

The project supports the province’s plan to better integrate neighborhoods into the urban fabric. There will be works to provide basic services (sewage, drinking water and electricity), to consolidate the pedestrian road scheme, to improve the public space and to foster social, employment and productive development opportunities.

The approved project is the result of the joint work of the Under-secretariat of International Financial Relations of the Ministry of Treasury, the officials of the government of the Province of Buenos Aires and the technical team of the World Bank. The operation will create opportunities and will improve the inclusion of vulnerable families.

The Ministry of Treasury reports it received USD 1.1 billion, nominal value, in offers for LETES due on September 27, 2019 and USD 479 million, nominal value, in offers for LETES due on January 17, 2020.

For 217-day Letes, the Ministry sold USD 300 million, nominal value, the cut-off price was of USD 960.00 for every USD 1,000, nominal value, which represents a Nominal Annual Rate of 7.01% and an Annual Effective Internal Rate of Return of 7.11%. The cut-off price offers were distributed on a pro-rate basis by a factor of 54.29173023717%.

The Ministry received a total of 7,255 purchase orders.

The loan will contribute to access to public information, ethical conduct of public officials and management of the financial sector

June 6, 2019

The Inter-American Development Bank approved financing for USD 200 million for the second stage of the Program to Support Transparency and Integrity Reforms in Argentina for the country to continue to strengthen the reforms that the government has been promoting since 2016.

This new operation supports measures that implement greater access to public information by citizens and economic actors through the regulation of the Argentine Access to Public Information Act. The operation also focuses on issues of integrity of officials and reduction of impunity, recognizing the progress in the implementation of a gift registry and the implementation of the “Arrepentido Law”.

One area of ​​special attention is providing more transparency in managing government resources in the procurement of public works, purchases and public employment. This includes the adoption of an electronic management system to contract public works bids.

Finally, the program foresees increasing the effectiveness of the financial system and reducing transaction costs, with the strengthening of transparency based on the adoption of measures aligned with the International Standards of the Financial Action Task Force (FATF) and IFRS, issued by the International Accounting Standards Board (IASC).

The project is the second of two consecutive operations, the first of which was approved in August 2017, under the programmatic policy-based loan modality to support policy reforms.