IDB approves financing for USD 900 M for social protection programs in Argentina that will benefit more than 4 million people

The Inter-American Development Bank (IDB) approved today a USD 900-million credit line for Argentina aimed at the sustainability of the programs “Hacemos Futuro”, “Progresar” Scholarships and the Social Tariff for Public Transportation. The loan will benefit more than 4 million people. This is the first operation of a multi-phase credit line for USD 1.5 billion to foster education, job training and access to public transportation.

More specifically, this program will benefit 235,000 people of the program “Hacemos Futuro” carried out by the Ministry of Health and Social Development; 653,723 young adults between the ages of 18 and 30 beneficiaries of “Progresar” Scholarships granted by the Ministry of Education, Culture, Science and Technology; and 3.8 million beneficiaries of the social tariff for public transportation. In addition, 360,000 beneficiaries will have an extension on the tariff promoted by the Ministry of Transportation.

IDB – Inter-American Development Bank is a multilateral organization and a strategic ally for Argentina. Since 2016, IDB has increased a 122% its participation compared with the 2013-2015 period in the financing of development projects aimed at improving the health, education and infrastructure sectors.