Progress is made in IDB Financing for the development of the region of Salto Grande

The Minister of Internal Affairs, Public Works and Housing, Rogelio Frigerio; the Undersecretary of International Financial Relations, Martín Soto; and the Governor of the Argentine Province of Entre Ríos, Gustavo Bordet, met today in China with the Vice President for Countries of the Inter-American Development Bank (IDB), Alexandre Meira da Rosa, to make progress in negotiations for the financing of the Development and Integration Program of the Region of Salto Grande.

The meeting was held within the context of the 12th China-LAC Business Summit, organized by the IDB, the China Council for the Promotion of International Trade (CCPIT) and the People’s Bank of China (PBOC) and after the negotiation led by the Under-secretariat of International Financial Relations of the Ministry of Treasury. At today’s event, the officials ratified the importance of developing integration projects in Latin America.

The USD 50-million loan will be directly awarded to the Province of Entre Ríos, with the guarantee of the National Government, and it is aimed at the project promoted by the IDB to support the physical and productive integration of the region of Salto Grande (Argentina – Uruguay).

In particular, the project is aimed the reopening of the Airport Comodoro Pierrestegui of the city of Concordia and the financing of the design and implementation of the agency that promotes exports and investments in the Province, which will include a multi-sectorial fund to foster business development in the region. The project will benefit more than 238,000 citizens of Concordia and Federación with a new transportation service.