CAF Pledges USD 400K for Argentina’s Coronavirus Health Emergency

In order to support the Argentine government in its declared health emergency, and to underpin the measures it is taking to tackle this issue, CAF—development bank of Latin America—has allocated USD 400,000 for the purchase of various healthcare products and financing of specific research consultancies. CAF thus recognizes the considerable efforts made by Argentina’s healthcare workers and citizens currently confined in their homes in compliance with the #StayAtHome recommendations issued by authorities.

In this context, Argentine authorities have deployed a National Emergency Operational Committee in communities where COVID-19 cases have been detected, in order to coordinate all actions and responses. In addition, the country’s health ministry is on high alert to raise epidemiological awareness, promote early detection protocols, ensure isolation of patients, provide adequate care to patients and implement research, prevention and control measures aimed at reducing the risk of spread.

“We want to recognize the government’s efforts in mitigating the negative effects of the pandemic and, as allies of Argentina’s development, we hereby join [the country] in this crucial moment with a rapid and timely contribution of non-reimbursable resources,” CAF executive president Luis Carranza Ugarte said, adding that the aid will not only be financial but also in the form of technical cooperation.

The cooperation funds are set to be managed by the National University of San Martín and will benefit the Argentine health ministry and other related areas, while the implementation-related aspects and the specific items to be financed will be addressed alongside CAF at the time of the preparation of the agreement. In order to expedite cooperation, CAF has approved and disbursed the above funds.

Since COVID-19 was declared a Public Health Emergency of International Concern (PHEIC) by the World Health Organization (WHO) and the Pan American Health Organization highlighted the high risk it poses to the region, CAF has made available a number of tools, including a contingent line of credit of up to USD 50 million per country to directly aid their public health systems and most critical sectors. The institution also offers a rapid emergency credit line of up to USD 2.5 billion to allow authorities to provide a quick and timely response to mitigate the effects of a COVID-19 spread, contribute to the continuity of business operations and recovery of economic growth, in addition to the donation of essential supplies and support for the health sector in the amount of USD 400,000 to Bolivia, Ecuador, Paraguay, Peru and Trinidad and Tobago.