IDB will finance USD 600 M for sustainability and improvement of effectiveness in social protection programs in Argentina

Financing will allow for the expansion of the programs “Hacemos Futuro”, “Progresar” and “Tarifa Social”. It will benefit more than 3 million people.

June 19, 2019

The Inter-American Development Bank (IDB) approved financing for USD 600 million aimed at the second stage of the Program to support the fairness and effectiveness of the social protection system, which will allow for the expansion of policies aimed at Argentina’s vulnerable population.

In this sense, the beneficiaries of these policies will have more possibilities to access registered jobs in the labor market, to promote school progress and foster comprehensive working training over technical and socio-emotional competences. Likewise, the program includes the improvement of access and efficiency in the distribution of subsidies on public transportation services.

This program will be implemented throughout the country and will directly benefit more than 3 million vulnerable people who participate in the different social projects.

The Under-secretariat of International Financial Relations of the Ministry of Treasury led the negotiations before the IDB with the purpose of achieving the approval of this multi-stage program. The purpose of the National Government is to consolidate its state policy within the area of social protection to achieve a more effective and inclusive social plan in 2021, in line with the 2030 Agenda in Argentina and with the Sustainable Development goals.