The Development Bank of Latin America CAF will provide financing to Argentina for 4,000 million dollars over the next four years that will be applied to projects to address the emergency by COVID-19 and promote social policies and economic reactivation, official sources reported on Tuesday. .
According to the Argentine Government, the financial support was confirmed by the head of the credit institution, Luis Carranza, during a videoconference with the Argentine president, Alberto Fernández.
"I appreciate that at this very difficult time for Argentina and for the world, the CAF is accompanying. It is very important to sustain assistance to the neediest sectors and to advance infrastructure plans," said the Argentine president.
For his part, Carranza maintained that it is "obligation" of the development bank to help Argentina with "all the commitment."
According to the official statement, Carranza congratulated Fernández on Argentina's health indicators, which he considered "one of the best in the region."
During their conversation, Fernández and the head of CAF discussed the projects that will be carried out this year, with an emphasis on social issues and a high impact on the provinces and their municipalities.
CAF's projected investment for 2020 in Argentina is 900 million dollars, which will be used for infrastructure works and two fast-disbursing lines of financing.
One of these lines, for 40 million dollars, will be to strengthen the attention of the health emergency by COVID-19 in the provinces, and the other, for 300 million dollars, to promote social policies in favor of the most vulnerable population .
Meanwhile, the funds allocated to infrastructure include projects such as the construction of 103 new educational buildings, the reconditioning of 130 km of routes and progress in the renovation of the Belgrano Sur railway.
It also includes the development of socio-urban integration works and the execution of a project to improve water supply in the province of Buenos Aires.
Luis Carranza also informed Alberto Fernández that the Development Bank of Latin America CAF is currently working on the approval in the coming months of new projects in Argentina.
These future initiatives include infrastructure works, the management of water resources, education programs and comprehensive intervention in popular neighborhoods.