The Inter-American Development Bank (IDB) announced a $ 3.9 billion package in support of Argentina, in an initiative with the United States and World Bank’s efforts for the financial stabilization of the Latin American country. The funds will be mobilized over 15 months.
In a statement, IDB said it should end the year with five new approved public sector operations, totaling US $ 2.9 billion, designed to support Argentina structural reforms.
In addition, the package includes another $ 1 billion channeled via BID Invest, private sector arm, directed to sectors such as energy, critical minerals, connectivity, health services and small and medium -sized financing.
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According to the IDB, the goal is to “significantly” its operations in Argentina over the next 15 months, combining sovereign credit with private investments and mobilization of resources.
This approach, which also reinforces the role of Bid Lab, the group of innovation and risk capital of the group, is aligned with the strategy for the country approved in July by the Executive Board.
The statement points out that financing priorities include “tax consolidation, increased competitiveness, infrastructure modernization and promotion of private investment”.
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Within the International Monetary Fund (IMF) program, IDB also said it supports Argentina with a package of up to $ 10 billion for the next three years, noting that IDB Invest Wallet in the country “is the largest in the entire region.”
