Uruguay signed an agreement with the IDB for 145 million dollars
The operation will boost the country’s economic recovery after the covid-19 pandemic and is expected to strengthen protection policies for vulnerable households and access to liquidity for micro, small, and medium-sized enterprises (MIPYMES). The agreement was signed by the Minister of Economy and Finance, Azucena Arbeleche, during the annual meeting of the Inter-American Development Bank (IDB) and IDB Invest, in Panama.
The purpose of the loan for 145 million dollars, called the Program to Strengthen Public Policy and Fiscal Management to Address the Health and Economic Crisis Caused by Covid-19 in Uruguay II, is to promote the country’s economic recovery. The IDB President, Ilan Goldfajn, also participated in the signing of the agreement.
This is the second initiative to support the aforementioned body for measures to protect the income of vulnerable households and access to liquidity for MSMEs.
Within the framework of the annual IDB meetings, held between March 17 and 19, Arbeleche also held meetings with the head of the United States delegation to that institution, Alexia Latortue, and the governors of Argentina, Brazil and Chile before that entity, Sergio Massa, Simone Nassar Tebet and Mario Marcel, respectively, among other representatives of foreign governments and the private sector.
The minister also attended a seminar on challenges and opportunities in the face of climate change, in which she called for the evolution of the supply of financial instruments from multilateral organizations, which could contemplate the reduction of rates for countries that contribute to regional and global public goods.
The Uruguayan delegation that attended the conference was also made up of the director of the Debt Management Unit of the aforementioned Secretary of State, Herman Kamil; the executive director of Uruguay before the IDB, Santiago Cat, and the counselor of our country in that institution, Darío Kagelmacher.