The World Bank has approved funding for 500 "green sticks" for Argentina | Chronic

World Bank Board Approves New $ 500 Million Financing Thursday "support Argentina in its economic recovery process to promote inclusive growth led by the private sector".

According to information provided by the World Bank, this loan complements budget support of $ 1 billion, of which the first disbursement was made in November 2018.

The project supports the implementation of public policies that promote inclusive growth and contribute to the protection of the most vulnerable, with two central objectives: to consolidate the foundations for private sector led growth and to strengthen social protection networks and social protection. 39, equity of society. fiscal policy.

"In order to protect the most vulnerable households, we seek to mitigate inflationary effects by maintaining the power to purchase social programs such as Universal Allocation for Children (AUH), and we continue to support efforts to provide health services in a fair way.he claimed Jesko Hentschel, Director of the World Bank for Argentina, Paraguay and Uruguay.

Programmatic funding policies for development, in the amount of US $ 500 million, are variable margin, repayable in 32 years and have a grace period of 7 years.

To help improve the business climate, funding supports measures that improve competition, reduce barriers to trade, facilitate the registration of new businesses, encourage the development of capital markets and encourage private investment in energy. renewable.