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IDB will Finance USD 50 million for the Development of the Salto Grande Region

The works will develop the productive and tourism sectors of the Province of Entre Ríos, promoting regional integration

The Minister of Treasury, Hernán Lacunza, the Governor of Entre Ríos, Gustavo Bordet, and the manager of the Southern Cone Country Department of the Inter-American Development Bank (IDB), José Luis Lupo, signed the loan and guarantee agreement for USD 50 million for the Salto Grande Region Development and Integration Project.

The resources will be allocated for the integration of the binational region of Salto Grande (Argentina-Uruguay), through the strengthening of the binational value chains in tourism and agribusiness, and the logistics of the border crossing of Salto Grande Bridge.

Specifically, with this loan, the Comodoro Pierrestegui Airport of the City of Concordia will be renovated and the design and implementation of the export and investment promotion agency in the Province will be financed. This agency will include a multi-sectoral fund to boost business development in the region. Additionally, the loan will contribute to generate a Border Facilitation Card (TFF, for its acronym in Spanish) system for tourism operators, and to incorporate technological equipment for the Concordia – Salto Border Center.

The Program will benefit the population and productive sectors of the Departments of Concordia, Federacion and Santa Ana of the Province of Entre Ríos with a new transport service and the speeding up of the border crossing. In turn, the Program will benefit 1,888 companies in the tourism sector and about 4,000 producers in Concordia, Federacion and Colón.

This operation is the result of the coordinated work between the Under-secretariat of International Financial Relations of the Ministry of Treasury, the provincial authorities and IDB officials. The main objective is to reduce socioeconomic imbalances and thus move towards a more sustainable and federal country.