Thursday, December 13th 2012 - 07:09 UTC

IDB 6bn loan to reduce development disparities in Argentine Northern provinces

The Inter-American Development Bank (IDB) approved a credit program for Argentina of 6 billion dollars until 2015, destined to works in the region known as Norte Grande, and Greater Buenos Aires, the Economy Ministry stated in a communiqué.

The program also includes Greater Buenos Aires extended poverty pockets

According to the official statement, these funds will have “strategic aims to relief the development restrictions, the social inclusion and productivity, the urban sustainability and habitat improvement.”

The loan reaches “areas such as transport, power, rural and agrarian development, tourism, education, health, water cleansing, rubbish treatment and development of urban and private sector.”

Despite some progress, significant development challenges remain, particularly with regards to the need to reduce disparities in the Norte Grande region and the greater Buenos Aires area in comparison with the rest of the country.

The Norte Grande, made up of Argentina’s nine Northern provinces and representing 27.2% of the country’s land area and 20.7% of its population, has a lower level of economic and social development than the country as a whole. The purpose of the strategy is to help improve the region’s competitiveness and productivity and reduce development disparities.

The greater Buenos Aires area, which covers 2.400 km2 and contains one third of the country's population, includes pockets of poverty and exclusion and suffers from environmental problems. The new Bank strategy aims to help improve the quality of life in the region and increase opportunities for its people.

Currently, the IDB loans to the Argentine public sectors reach 54 programs for 9.206 billion dollars. During this year, the IDB approved new loans for a total amount of 1.390 billion dollars
 

18 comments Feed

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1 Huntsman Extraordinaire (#) Dec 13th, 2012 - 11:04 am Report abuse
Don't expect to get paid back because Argentina will default long before then and since the world is increasingly telling them a debt is a debt soon the whole world will be a vulture fund that bleeds the Argentinian people and are not deserving of their hard earned yet worthless pesos.

Spread the word! Sign this petition! epetitions.direct.gov.uk/petitions/42558
2 Optimus_Princeps (#) Dec 13th, 2012 - 12:40 pm Report abuse
That's money that they'll never see again. I thought stealing our money through taxes was working so well. They too will see their money mismanaged, not paid back, and they will probably also be dubbed “vultures” somewhere down the line.
3 willi1 (#) Dec 13th, 2012 - 12:47 pm Report abuse
the question is: did germany, us, and other bigger eu-countries disagree again or agreed? who knows?
4 Nostrolldamus The 2nd (#) Dec 13th, 2012 - 01:36 pm Report abuse
@3

You Moron, the IDB is an American continent only thing. Not that Germany, “you”, or the rest of the EU have any money to lend if you could mind you. You will be asking us for food aid soon.
5 Conqueror (#) Dec 13th, 2012 - 01:44 pm Report abuse
@3 It's the Inter-American Development Bank. But what is worrying is that the 48 “members” are divided between the “borrowing” and “non-borrowing” states. Argieland has defaulted on the IADB before. AND 50.02% of the shares are held by the “borrowers”!
6 ElaineB (#) Dec 13th, 2012 - 02:17 pm Report abuse
It is not very isolationist to take large loans from outside bodies is it? I thought Argentina was entirely self-sufficient and didn't need the rest of the world.
7 yankeeboy (#) Dec 13th, 2012 - 02:33 pm Report abuse
Approving the loan and disbursements are two very different things. I doubt they will be able to disburse if the IMF kicks out Argentina.
8 reality check (#) Dec 13th, 2012 - 02:55 pm Report abuse
@4Nosy
Morons in glass houses should not throw stone!!!! , thats a computer your sitting in front of, use it to look up IDB, pay particular attention to Governance of the bank, as conqueror says, Borrowing (Latam) and None Borrowing members.
9 Pirat-Hunter (#) Dec 13th, 2012 - 03:01 pm Report abuse
So much for not lending Argentina anything lol some people will never learn.

www.gregpalast.com/the-globalizer-who-came-in-from-the-cold/
10 JuanGabriel (#) Dec 13th, 2012 - 04:09 pm Report abuse
@4 before you go calling people morons I suggest you get your facts straight. Although the IDB only lends to South America and the Caribbean, the 22 non-borrowing countries put up guarantees for the amounts borrowed in order to make the loans at lower interest rates. 16 of those countries are European.
11 reality check (#) Dec 13th, 2012 - 04:45 pm Report abuse
Bloody European vultures, lending money at low interest rates, THIEVES, PIRATES, SPECULATORS. Refuse to pay them back, that's what I say!!!

How's that for a typical nosey response?
12 Conqueror (#) Dec 13th, 2012 - 07:04 pm Report abuse
@8 Thank you.

The Bank is owned by 48 sovereign states, which are its shareholders and members. Only the 26 borrowing countries are able to receive loans.

Borrowing: Argentina, The Bahamas, Barbados, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, Suriname, Trinidad and Tobago, Uruguay, Venezuela

Non-borrowing: Austria, Belgium, Canada, China, Croatia, Denmark, Finland, France, Germany, Israel, Italy, Japan, The Netherlands, Norway, Portugal, Republic of Korea, Slovenia, Spain, Sweden, Switzerland, United Kingdom, United States

en.wikipedia.org/wiki/Inter-American_Development_Bank

And now we can all appreciate Nostril's lack of education and intelligence. Just look at that, Nosy, the IADB is a PREFERENTIAL CREDITOR and has to be paid back FIRST.
13 Ayayay (#) Dec 13th, 2012 - 09:11 pm Report abuse
The U.S. is helping the environment and humans on both continents!!!
14 slattzzz (#) Dec 13th, 2012 - 10:24 pm Report abuse
Nostril you are an anus, I've told you before do your homework before spouting off...............wait for it people thesaurus meltdown !!!!!
15 Pirat-Hunter (#) Dec 13th, 2012 - 11:29 pm Report abuse
You really know how desperate the world economy is when a ZZ nation gets AA credit, I will like to remind all readers that money is a beast that is only loyal to greed. If this money didn't make it to Latin America I am sure many nations around the world would have suffered hunger, mind you this is just a bandage compared to heart surgery needed to keep the world population from hunger.
16 ProRG_American (#) Dec 13th, 2012 - 11:58 pm Report abuse
See, I told you so. (More positive news). Go and squirm Brit turnips.

www.buenosairesherald.com/article/119310/cfk-argentina-close-to-reaching-automobile-trade-agreement-with-mexico
17 Pete Bog (#) Dec 14th, 2012 - 12:14 am Report abuse
IDB. Good luck in getting your money back. Without interest, if at all.
18 British_Kirchnerist (#) Dec 22nd, 2012 - 11:03 pm Report abuse
Seems some people don't think Arg is the investment risk the haters on this blog say it is...

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