CAF Reiterates Support to Argentina’s Sustainable Development

The representative of CAF—development bank of Latin America—in Argentina, Santiago Rojas, Arroyo, attended the inauguration ceremony of President Alberto Fernández. Rojas was also part of the international delegations that attended the event held at the presidential palace.

Upon congratulating the new president, Santiago Rojas reassured CAF’s commitment to supporting Argentina’s sustainable development, through projects arising from the national development plan and aligned with CAF’s overall strategy.

CAF’s support to Argentina has recently focused on key areas of development, such as urban mobility, infrastructure modernization, institutional strengthening and promotion of urban and regional competitiveness. In a meeting held on November 19 with President Alberto Fernández, CAF executive president Luis Carranza Ugarte expressed his trust in the Argentine economy and announced that the institution will ramp up its presence in the country over the next four years, approving more than USD 4 billion through technical cooperation programs and projects and technical cooperation. The loan is expected to improve the lives of millions in Argentina through development projects.

Carranza also announced that CAF will approve new programs and projects spread out over the next four years, amounting to some USD 2.5 billion. The line of credit will be applied to sectors prioritized by the incoming administration, including infrastructure (logistic corridors, urban transport, ICT and energy), as well as water resources (sewers, aqueducts, irrigation, flood mitigation), education, support to the Cities with a Future program, and support for exporting SMEs, such as the suppliers in Vaca Muerta.