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Argentina agreed with the IDB on a US$80 million loan for MSMEs

Argentina agreed with the IDB on a US$80 million loan for MSMEs

Photo: Economy Press.

The Minister of Economy, Sergio Massaannounced this Tuesday that Argentina agreed with the Inter-American Development Bank (IDB) a loan for 80 million dollars, destined to the productive development of micro, small and medium-sized companies (mipymes).

Massa pointed out that of the total disbursements of 2022, 77% were disbursed during the August-December period, improving the previous performance, since Argentina pays interest for loans that it does not use.

The minister stressed that “in 2022 we exceed the historical limit of disbursements with multilateral organizations exceeding 5,023 million dollars and we aspire in 2023 to exceed the rate of disbursements and we are negotiating a series of additional credit lines, perhaps the most important with the IDB, related to the drought. The most important thing with the multilaterals is the flow of capital that in 2022, the net flow of capital was 1,923 million dollars.”

Later, the minister pointed out that “in this case, we are signing a contract for an additional 80 million dollars, focused on what is the productive development of MSMEs“.

Massa explained that “this line has three objectives, development and innovation, sustainability and digital transformation.”

“These loans have four components, one of non-refundable contributions of 28 million dollars, another of non-refundable contributions for the digital transformation, with the objective that there are MSMEs 4.0, a third for the support of the federal network for MSMEs and a fourth for the training of MSMEs”, he added.

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