CAF Strategically Funds Argentina’s Education, Jobs and Connectivity

With the purpose of improving the quality of life of the population with food security, strengthening vaccination plans, educational infrastructure, as well as promoting economic and social recovery and job creation through digital, air, rail and road connectivity projects, the executive president of CAF—development bank of Latin America—, Sergio Díaz-Granados, met with the President of the Republic of Argentina, Alberto Fernández, to sign 8 loans, for more than USD 1.1 billion.

The initiatives signed include: Project to Support the Argentine National Plan against Hunger ALIMENTAR II (USD 300 million); the Program to Support the Strategic Plan for COVID-19 Vaccination (USD 75 million); the Municipal Infrastructure Development Program (USD 200 million); the “Back to the Classroom” School Infrastructure Revamping Project (USD 75 million); the Sectoral Road Sector Support Program (USD 100 million); the Air Traffic Surveillance System Modernization Program (USD 40.41 million); the ARSAT Satellite Development and Manufacturing Project - SG1 (USD 243.8 million); and the addendum to the Renovation Project of the M Line of the Belgrano Railway, for USD 75 million, totaling USD 150 million.

The signing of the agreements took place at Casa Rosada after a working lunch, attended also by Gustavo Béliz, Secretary of Strategic Affairs of the Presidency of the Nation, and Christian Asinelli, Corporate Vice President of Strategic Programming of CAF.

“I am proud to be part of solutions that improve the quality of life of Argentines, such as the inauguration of the Cero + Infinito building at the UBA, which we have just done, checking yesterday the progress of the works of expansion of the AySA water treatment plant in the south of the Great Buenos Aires, which together with the credits we are signing today with President Fernández, are focused on people and their well-being. I also want to highlight CAF’s close relationship with Argentina for almost 15 years with USD 13.44 billion approved and with a current portfolio, 43% of which are green financing, an example of what we want to achieve throughout the region in the next 5 years to reach the goal of becoming the Green Bank of Latin America,” said Sergio Díaz-Granados.   

An announcement was made also about plans to approve in the remainder of the year credits for USD 570 million to be allocated to water and sanitation, agro-export, school and university infrastructure projects, and integration logistics corridors. Lastly, by 2022, USD 1 billion will be earmarked for strategic sectors such as transport, water and sanitation, technology and renewable energy, among others.

In terms of technical cooperation CAF will approve this year more than USD 2 million to promote various actions of interest to the Argentine government related to the strategic lines of the bank’s agenda, which include water and sanitation, education, culture, financial markets, government innovation, financial inclusion and project evaluation.

Cero + Infinito

The inauguration ceremony of the innovative Cero + Infinito building was preceded by a tour of the property, followed by speeches by authorities from government, the University of Buenos Aires and CAF. Cero + Infinito is a 17,200 m2 development in sustainable infrastructure and educational equipment, with the capacity to house 1,700 people from the Faculty of Exact and Natural Sciences of the University of Buenos Aires. Funded and promoted by CAF together with the Government of the Argentine Republic, the modern building will be an agent of change in the way of researching and training human resources in Argentina and the region.

In addition to CAF executive president Sergio Díaz-Granados, the event was attended by Argentine authorities, including Juan Luis Manzur, Chief of the Cabinet of Ministers of the Nation, who inaugurated the building; Axel Kicillof, Governor of the Province of Buenos Aires; Alberto Barbieri, Rector of the University of Buenos Aires; Daniel Filmus, Minister of Science, Technology and Innovation; Gustavo Béliz, Secretary for Strategic Affairs; Juan Carlos Reboreda, Dean of the Faculty of Exact and Natural Sciences of the University of Buenos Aires; Cristina Arranz, Dean of the Faculty of Pharmacy and Biochemistry of the University of Buenos Aires, and Cecilia Nicolini, Advisor to the President. Also present for CAF was Christian Asinelli, Corporate Vice President of Strategic Programming; Andrés Rugeles, Chief of Staff and General Counsel, and Santiago Rojas, CAF representative in Argentina.

Thus, CAF consolidates itself as an unconditional ally of Argentina. Since the country became a full member of the institution (in 2007) to date, it has received USD 13.44 billion. During the pandemic alone, USD 715 million were allocated to provide a rapid and timely response to the crisis generated by COVID-19. The institution will continue to support the nation with financing, technical assistance and knowledge generation.