Last Friday the 24th, the World Bank Directory approved two new lines financing for Argentina for a total of US$ 450 millionto improve education and promote inclusive and sustainable urban development.
Of the US$450 million, US$ 300 million will be intended to reduce dropout rates both in secondary school and at the tertiary leveland US$150 million to support planned urban growth that allows a more inclusive access to housing.
“It is a great satisfaction to have the support of the World Bank to contribute to the financing of inclusion education, as well as to launch a habitat and urban land program to improve living conditions and access to infrastructure and services for more Argentines,” said the head of the Palacio de Hacienda, Sergio Massa.
Massa agreed disbursements with the World Bank to save US$ 400 million
The project “Improving Inclusion in Secondary and Higher Education by Results” supports the national Progresar scholarship program, which currently reaches 1.4 million vulnerable young people in order to accompany them and encourage them to finish their studies. It is a fixed margin loan, repayable in 31.5 years and has a grace period of eight years, communicated the Palace of Finance.
The project Habitat and Urban Land will be implemented in 40 municipalities across the country to improve living conditions in 17 thousand homes through planning of urban growth and the provision of better infrastructure and services in villas, informal settlements and degraded areas.
This project seeks to facilitate access to parcels of land in urban areas safe and environmentally appropriate, and will provide municipal governments with more efficient instruments for urban land management.
In vulnerable neighborhoods, Connection to basic services such as drinking water, sewer networks, gas, and electricity will be provided; and will promote social integration with the construction of public infrastructure and community facilities.
As reported by the Ministry of Economy on Monday, the WB loan has a variable margin, is repayable in 32 years and has a seven-year grace period.
SE CP
You may also like