USA approved US $ 813 million loan to Argentina

At the hours

land in Argentina

, the president of the United States,

Donald Trump

, gave a new sample of support to the administration of

Mauricio Macri

when approving an $ 813 million loan that will boost investments in the infrastructure, energy and logistics sectors, for a total of $ 3,000 million.

Trump's representative was the Foreign Investment Corporation (OPIC), a US government institution that funds the development of projects to support economic growth. Seven years ago, this organization, which needs US Congressional approval for lending, did not fund private projects in Argentina.

"The announcement of these investments is not a coincidence, they result from President Macri's commitment to having an open and transparent market. That's why President Trump asked us to fund infrastructure projects, which the country badly needs, "said Ray W. Washburne, President and Executive Director of OPIC, this afternoon at San Martín Palace, seat of the Chancery. They listened to him sitting next to him: Ministers Jorge Faurie (Foreign Affairs), Dante Sica (Production and Labor), Guillermo Dietrich (Transport) and Secretary of Energy, Javier Iguacel. There was also the American ambbadador to the country, Edward Prado, and the Argentine ambbadador to the United States, Fernando Oris de Roa.

At the forefront, in the front row, were the businessmen who, in a few minutes, signed the letter of intent with CIPO, the preliminary agreement in the funding process. "Before the institution can commit or disburse funding, it needs to evaluate and review the project to determine whether it meets the standard underwriting criteria and policies of the organization," said L & # 's 39; institution.

"As long as the rules of law are respected and a strong legal system is in place, the investments will be maintained.If the US companies to which they lend money to pay in Argentina do not feel safe to invest here, they will not come and therefore, we do not do it either, because we do not realize the projects, we are only suppliers, "said Washburne. He then added that he saw "strong justice" in corruption cases revealed.

Projects

With the oil company Tecpetrol, which holds shares in the Transportadora of Gas del Sur (TGS), OPIC has signed a financing agreement of US $ 350 million for the construction of a gas pipeline in front of connect Neuquén to Rosario to ensure the distribution of this hydrocarbon in the country. North of the country with production of Vaca Muerta. As stated in the company, the agreement could be concluded in the first half of next year and the construction is expected to last about 16 months.

Likewise, OPIC will fund Public Participation Works (PPP) for the US $ 250 million Mendoza section 7 route, which has been awarded to Cartellone on the corridor C tender market, which extends over 700 km. "The loan will be granted with the aim of improving regional connectivity and facilitating trade," says the agency's statement.

OPIC will also provide a $ 50 million loan to YPF Luz to support 122 megawatts (MW) of wind power in Santa Cruz and add a source of renewable energy to the national grid.

In the same vein, funds worth US $ 118 million will be awarded to Genneia to support the construction of a wind and solar power plant that will together generate 222 MW of electricity. sustainable energy in the Ullum and Chubut regions.

Finally, a US $ 45 million loan will be granted to Plaza Logística to increase its deposits in Greater Buenos Aires and improve the logistics network in the country.