CAF approves $ 300 million to strengthen the economy in Argentina

The measure corresponds to a financial system strengthening plan promoted by the government of the South American country

The Latin American Development Bank (CAF in Spanish) has decided to approve a loan of 300 million dollars to strengthen the most vulnerable sectors of Argentina as well as the economy of the South American country.

Among the conditions of the financing line, it refers to the delivery of cards for the purchase of food that will benefit the most destitute Argentine population. The agreement occurred during a videoconference in which government authorities participated together with the CAF board.

Since the arrival of Alberto Fernández to the presidency, in December last year, the Head of State announced his government plan, which is constituted by a National Argentina Against Hunger Program, with the objective of attending to the country’s social and economic emergency. .

This plan exclusively covers mothers and fathers with children up to 6 years of age, and with a number of children of up to 5 under 18 years old, and will also assist monthly unemployed parents or with informal jobs.

The loan of 300 million dollars granted by CAF will serve to reinforce this project and will be in charge of the Ministry of Social Development, within 18 months and will be settled over 20 years.


Source: bancaynegocios

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