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The IDB approved USD 200-million financing to improve road infrastructure in the Province of Buenos Aires

Además, el organismo aprobó financiamiento para la Estrategia Nacional de Inclusión Financiera que beneficiará a Pymes y sectores excluidos.

November 29, 2017

The Inter-American Development Bank (IDB) approved USD 200-million financing to improve road infrastructure in the Province of Buenos Aires through the “Program to Extend the Capacity and Security of Road Corridors in the Province of Buenos Aires”. Likewise, the credit Institution approved financing for USD 20 million to support the development of the Financial Inclusion National Strategy.

The first program is aimed at extending the capacity of roads, transforming them into freeways to transport the production of the Province and to carry the national production to the port of Buenos Aires. To that end, it will finance road duplication, the construction of paved roads and access to different locations, as well as technical and environmental controls of works.

The other program is aimed at the strengthening of the Financial Inclusion National Strategy that will improve the access of families and enterprises to the formal financial system, from which 50% of the population is excluded. It will also increase the use of digital services and payment methods and it will promote the access of SMEs to credits in sustainable conditions.

The IDB contributed in the preparation and the design of this Strategy and it has the support of Queen Maxima of Netherlands, as Special Ambassador of the Secretary General of the United Nations on Financial Inclusion for Development.

The Minister of Finance, Luis Caputo, highlighted “the commitment of the IDB with the development and growth agenda of Argentina. It is an ally that helps us in the challenge of becoming a competitive country, capable to get a better position in the world”. Regarding the financial inclusion policy developed by the Government, Caputo said: “Promoting these policies is creating equal opportunities. There is no possibility to grow without financial inclusion”.