The loans will go toward upgrading the Belgrano Sur railway and developing electric transportation in Buenos Aires. Productive financing will also strengthen through the capital markets
Within the framework of the CLXIII Meeting held in Madrid, the Board of Directors of the Development Bank of Latin America (CAF) approved loans for USD 400 million aimed at infrastructure projects and the development of capital markets in Argentina.
USD 150 million will be allocated for the Belgrano Sur railway for doubling tracks in some areas, renovating stations and maintenance along a 47km route.
USD 100 million will be allocated for the development and research of possible electric transportation options.
Finally, USD 150 million will be allocated for the Argentine Treasury Ministry initiative known as Capital Markets Development Program for Productive Financing. This law promotes the financial inclusion of micro, small and medium enterprises in capital markets, fosters national savings and strengthens the Argentine Securities and Exchange Commission.
CAF is a development bank created in 1970, owned by 19 countries – 17 of Latin America and the Caribbean, Spain and Portugal- as well as 13 private banks in the region.
It promotes a sustainable development model through credit operations, non-reimbursable resources, and support in the technical and financial structuring of projects in the public and private sectors of Latin America.