Caputo and the IDB signed loan agreements for USD 550 million aimed at sanitation, urban infrastructure and education

The Minister of Finance, Luis Caputo, signed with the President of the Inter-American Development Bank (IDB), Luis Alberto Moreno, loans to invest a total of USD 550 million in sanitation, urban infrastructure and education.
USD 200 million will be aimed at the Programa de Desarrollo de los Servicios de Agua y Saneamiento del Plan Belgrano (Program to Develop Water and Sanitation Services of Belgrano Plan).

USD 250 million and a first individual loan of USD 100 million will be aimed at the Programa de Integración Urbana e Inclusión Social y Educativa (Program of Urban Integration and Social and Educational Inclusion) of the City of Buenos Aires. The Mayor of the City of Buenos Aires, Horacio Rodriguez Larreta, also attended this agreement execution.

The objective of the Program to Develop Water and Sanitation Services is to increase the access to potable water and sanitation services, to improve the environmental conditions of sanitation and hygiene and to improve the operation and financing of service providers, in particular in the Provinces of the Belgrano Plan (aimed at the rehabilitation and extension of infrastructure in Tucuman, Salta, Misiones, Chaco, Corrientes, Santiago del Estero, La Rioja, Jujuy, Formosa and Chaco), improving the living conditions of 150,000 households.

The credit line for the Program of Urban Integration and Social and Educational Inclusion is aimed at increasing the social and urban social equity and integration of the City of Buenos Aires.

The improvement of the living conditions in Barrio 31 is one of the priorities of this investment. Resources will be allocated at the improvement of urban infrastructure and social equipment at the improvement of housing conditions in households and stores. The Program foresees the construction of an Education Center with 3 schools for 1,100 students in kindergarten and primary school and education for adults. In addition, a new building of the Ministry of Education will be built.

Another objective of this loan is to improve the education quality of the City extending the access to new education tools and strengthening the management and evaluation systems.

The following officials attended the execution of the agreements: the Minister of Finance; the Mayor of the City of Buenos Aires; the President of the IDB; the Chief of Cabinet of the City of Buenos Aires, Felipe Miguel; the Secretary General of the Government of the City of Buenos Aires, Fernando Straface; the Minister of Education of the City of Buenos Aires, Soledad Acuña; the Responsible of Barrio 31, Diego Fernandez; the Undersecretary of International and Institutional Relations of the Government of the City of Buenos Aires, Francisco Resnicoff; the President of the IDB for Argentina, Raul Novoa; and the Head of the Belgrano Plan, Carlos Vignolo.

Afterwards, with the presence of President Mauricio Macri, the opening ceremony of FOROMIC 2017 took place and the Minister of Finance, Luis Caputo, handed the Inter-American Award for Financial and Entrepreneurial Innovation of the category “Financial Service Providers” to the National Commission for the Pension System (CONSAR, for its acronym in Spanish) from Mexico. Carlos Marmolejo, Vice President of the Institution received the award.

The award recognizes the development and launching of “Afore Movil”, a mobile app that enables millions of Mexicans to keep track of their savings account for retirement. It also allows small enterprises and independent workers to open and manage their accounts.