The World Bank approved a loan of US $ 395 million for Argentina

The World Bank Directory (
BM) approved today two loans for one
total of US $ 395 million for Argentina amid the negotiations of the administration of
Mauricio Macri to achieve a new disbursement of the loan agreed with the International Monetary Fund (
IMF).

The money granted by the WB is to continue the construction of the works of
sanitation of the Matanza-Riachuelo basin and support the Province of Buenos Aires in the
implementation of the electricity social tariff.
"With these projects, the World Bank reaffirms its long-term commitment to Argentina by accompanying initiatives that improve the living conditions of vulnerable sectors. In difficult times it is especially important to protect the poorest households, by ensuring that families that they need access to basic services such as electricity, "Jordan Schwartz, director of the World Bank for Argentina, Paraguay and Uruguay, said in a statement.

Schwartz added: "At the same time, we continue to support the infrastructure work of the Matanza-Riachuelo River – the largest sanitation project in Latin America – which will reduce pollution and improve the quality of life of those living in the basin."

The
Sustainable Development Project of the Matanza-Riachuelo Basin It will receive financing of US $ 245 million in order to complete the construction of the sewage collector on the left bank of the river, the emissary of the Río de la Plata and the Southwest wastewater treatment plant. The project also provides for work so that 50,000 vulnerable people living in the basin can access the basic infrastructure of drinking water and sanitation.
Named "Support for the Transition of the Electric Social Rate in the Province of Buenos Aires", the initiative will receive US $ 150 million and will serve to accompany the transfer of the subsidy from the national to the provincial level, while seeking to improve the identification and beneficiary monitoring to ensure that the most vulnerable population is covered.
Currently, the social rate reaches 1.4 million users resident in the province. One of the objectives of the project, in addition, is to complete the records of 28 percent of Buenos Aires users, approximately 1.7 million people, to determine their eligibility conditions for the social rate program. Likewise, energy efficiency measures will be promoted and work will be done to strengthen institutional capacities at the provincial level.