The Development Bank of Latin America (CAF)announced two new credit operations for a total of $90 million in order to guarantee the improvement in road connectivity in the province of Between rivers and the provision of safe water in dispersed rural populations in the Argentine North. “In the last month of the year, the agency committed USD 235 million in loans that seek to promote sustainable development and equal opportunities throughout the country, with initiatives that will benefit about 1.72 million people. We are proud to be part of the Argentine and Latin American economic recovery, and we are committed to continue working in this direction in 2023”, remarked the corporate vice president of strategic programming, Christian Asinelli.
First, CAF announced a long-term sovereign risk loan for USD 40 million to the government of Entre Ríos to finance the Roads Program for Productive Development, which seeks to boost the provincial economy by improving road connectivity. Specifically, the initiative contemplates the intervention of 83.7 km of rural roads to provide greater trafficability and security, thus generating favorable conditions to increase productivity in the area of influence. In addition, training activities and technical assistance for productive establishments in the area of influence are included. It is estimated that the measure will benefit about 63,900 people, including at least 1,120 producers who carry out activities in the beekeeping, cattle and sheep, poultry and swine sectors.
On the other hand, the organization will finance USD 50 million the Safe Water Program for Dispersed Rural Communitieswhich seeks to improve the quality of life and contribute to equal opportunities by reducing the deficit in access to safe water for vulnerable populations, especially those located in the provinces of the Big north. The initiative includes a series of interventions to correct water supply deficiencies in towns in Chaco, Formosa, Santiago del Estero, Salta and Tucumán. As a result, it is expected to provide drinking water to around 18,000 people in five provinces.
Both operations are added to those announced at the beginning of December to contribute to the energy transition of the province of Tierra del Fuego, Antártida and Islas del Atlántico Sur and improve urban connectivity in the Metropolitan Area of Buenos Aires through the construction of multiple level crossings in suburban locations. These last two initiatives implied financing for USD 145 million and will benefit close to 1.67 million people in both regions.