Support for Argentine social sector

(Buenos Aires, November 19, 2009).- CAF announced the recent approval of US$173 million for three projects which will have a direct impact on the Argentine population. The projects are the Multiple Works in Municipalities Program for US$100 million, pre-investment studies for projects in the energy sector for US$37.7 million, and the University Infrastructure Expansion and Improvement Program for US$35 million.

"These approvals will benefit the citizens of this CAF member country - CAF President & CEO Enrique García said - especially the social infrastructure projects targeted at low-income and more vulnerable populations."

"The US$100 million loan approved for the Multiple Works in Municipalities Program aims to improve the quality of life and well-being of the inhabitants of these areas by financing minor infrastructure works with strong social impact, which create equity and regional development. The program will be executed by the Ministry of Federal Planning, Public Investment and Services, through the Unit for Coordination of Programs and Projects with External Financing.

To fund pre-investment studies which structure projects in the energy sector, US$37.7 million was approved for execution in the next few years: 75% of the amount of the program (US$42 million) will be specifically used for engineering studies for hydroelectric developments, including binational works on the border with Brazil. The studies will be executed by the Secretariat of Energy of the Ministry of Federal Planning, Public Investment and Services.

Finally, a US$35 million loan was announced for the University Infrastructure Program for execution of 28 infrastructure works in 23 national public universities, benefiting around 250,000 students, 20% of the registration in national public universities in Argentina.