President Alberto Fernandez met with his Chinese counterpart Xi Jinping on his second day of visiting Beijing. The private meeting allowed the consolidation of a multimillion-dollar agreement with which Argentina obtained financing of more than 23,700 million dollars.
Alberto Fernandez signed a commitment for Argentina to join the Silk Road and Beltway, a Chinese initiative that seeks to stimulate the flow of trade and investment to different regions of the world. It is expected that the mandatary Give more details of the project on your return to the country.
the visit of Alberto Fernandez to China was brief and the meeting with Xi Jinping took place in private and succinctly inside the Great Hall of the People, after a day of formal acts and diplomatic meetings.
The Silk Road is already made up of 140 countries that have strong cooperation ties with China, looking for infrastructure projects and large-scale investments. In Argentina, the millionaire disbursement will be made in two tranches.
How will the disbursements be?
The first part of the disbursement achieved by Alberto Fernandez It has already been approved and consists of 14 billion dollars that will be granted under the DECCE mechanism (Strategic Dialogue for Economic Cooperation and Coordination).
The second, It consists of 9,700 million dollars that Argentina will have to present to the Ad Hoc Group that was created between the two nations and will allow the investment and infrastructure development agreement to be finalized.
Although it was expected that the Argentine head of state was added to this initiative, the amount of financing was unknown, which helps mitigate the financial need to meet the commitments agreed with the IMF (International Monetary Fund).
Among the infrastructure works that China will finance in Argentina there are several related to the energy sector, public transportation, the water and sewage network, in addition to the construction of social housing.