CAF approves USD 100-million loan for urban integration of poor neighborhoods

December 4, 2018

The Development Bank of Latin America approved a USD 100-million loan for the social and urban integration of villa Rodrigo Bueno, villa 20 and villa Fraga, poor neighborhoods of the City of Buenos Aires.

The Board of Directors of the Development Bank of Latin America (CAF) will grant a loan for USD 100 million for Argentina’s Program for the social and urban integration of Villa 20, Villa Rodrigo Bueno and Villa Fraga, poor neighborhoods of the City of Buenos Aires.

The Program is aimed at developing and implementing urbanization projects to improve the social, economic and physical integration of 50,000 inhabitants of these neighborhoods. Specifically, the Program includes the improvement of houses, the creation of new houses and the opening of roads. It also includes the improvement of public spaces, the supply of equipment and basic infrastructure of urban services such as drinking water, sewage, and electricity, among others.

The CLXIV Board of Directors Meeting was held at Montevideo, Uruguay and included the participation of the Undersecretary of International Financial Relations of the Ministry of Treasury, Martín Soto.

The Bank expects for 2019 approvals for USD 1.86 billion and disbursements for USD 8.04 billion, with a portfolio of loans and investment for USD 26.88 billion, representing a positive variation of 5.5% compared with the previous year. Argentina is the main beneficiary of CAF financing, with the 14% of the organization’s portfolio in investment projects in strategic sectors for the growth of the country and the generation of quality jobs. In 2018, Argentina has received approvals for a total of USD 1.3 billion and the amount of expected disbursements is of USD 775 million.