The FAC approved a $ 400 million loan for transportation, energy and productive financing

The Latin American Development Bank (CAF) approved a US $ 400 million loan to finance transportation, energy and productive financing in Argentina.

As part of its CLXIII session held in Madrid, the multilateral agency ratified its support for the "sustainable development" of Argentina with the approval of three operations who reach this amount.

Initiatives are concentrated in strategic sectors such as transportation, energy and capital markets to promote productivity.

The members of the Board of Directors approved a credit of $ 150 million for the General Belgrano Cruise M-Branches-Marinos Transfers Renewal Project – Belgrano Sur Railroad Section – Phase II; another for $ 100 million for the Buenos Aires Regional Electric Transportation Program; and $ 150 million for the Financial Market Development Program for Productive Financing.

"We are an ally of the sustainable development of Argentina and thanks to these operations, the CAF brings to the country not only financial contribution but also and experience in the transport infrastructure and the electric transmission Luis Carranza, President of CAF

also stressed the support for "financial inclusion issues of micro, small and medium enterprises in the capital market." Increasing productivity and the good -being of the population, with a global and long-term vision. "

In the case of Belgrano Sur Railroad, the aim of the project is to improve the mobility and connectivity of transport services in the South Corridor. of the Buenos Aires Metropolitan Area (RMBA) to the Central Zone of the City of Buenos Aires (CABA), through the renovation of To achieve this, this second phase of CAF financing of USD 150 million in favor FCBS provides for the complete renewal of branch M, from the Tapiales station to the Marinos del Crucero General Belgrano station.

they include interventions such as the renewal of the road (47 km); the duplication of roads (6 km); integral signage of the section; the renovation or improvement of 25 level crossings; the renovation of the resort Marinos del Crucero General Belgrano; and improving the urban environment of Aldo Bonzi Station (18,000 m2 of areas including sidewalks, streets and green spaces);

In the meantime, the regional power transmission program of the province of Buenos Aires includes the construction of high voltage transmission networks and the preparation of feasibility studies necessary to meet the growth of demand and relieve overloads Similarly, it is planned to strengthen the institutional capacity of the implementation unit and the technical support of the Ministry of Infrastructure and Utilities of the province of Buenos Aires .

The program, which will benefit from a $ 100 million financing from the CAF, will increase efficiency and reduce electricity supply costs in the country. one of the most populated areas of the country.

Among the expected benefits, operability in electrical systems, which will increase the processing capacity; the elimination of decentralized diesel production, which will result in a significant reduction in operating costs and environmental impact; and the improvement of service quality indicators

With regard to the development of the capital market for productive financing, CAF financing of $ 150 million will contribute to the Ministry of Finance in the implementation of the law on productive financing. (LFP), through freely available budget support resources.

The LFP promotes the financial inclusion of micro, small and medium enterprises in the capital market, encourages national savings and their channeling towards long-term investments and strengthens "The program is aligned with the strategies of the Government of Argentina that promote the financial inclusion of all sectors of the economy, and strengthening the institutional and regulatory frameworks that govern productive financing and the capital market ", a declared the entity.

The CAF is made up of 19 countries -17 from Latin America and the Caribbean, with Spain and Portugal and 13 private banks, and is one of the main sources of multilateral funding and an important knowledge generator for the region.