The World Bank and the Inter-American Development Bank are providing Argentina with three loans totaling more than US$1.8 billion, aiming to help the country cope with financial difficulties and support citizens most at risk.
The British Embassy in Santiago and the Infrastructure and Energy Sector at the Inter-American Development Bank (IDB) organized during Chile's Expomin 2018 Mining Fair the international seminar, Innovation in the lithium supply chain. Views from Latin America and the United Kingdom. Britain participated with a pavilion at Expomin, which is the largest mining exhibition in the Latin-American region.
A study by the Inter-American Development Bank (IDB) estimates the direct annual cost of crime and violence in Latin America and the Caribbean at US$261 billion or 3.55% of GDP, roughly what the region invests on infrastructure and double the average cost for developed countries. It is also the equivalent income for 30% of the poorest population, underscoring the grave development impact violence has on the region.
The Inter-American Development Bank (IDB) has approved a US$40 million loan that will allow for bidding to begin for the Agua Negra tunnel, which will connect San Juan province in Argentina with that of Coquimbo in Chile. The tunnel is key to improving trade integration between the two countries and the rest of Mercosur through a new corridor that will connect the Atlantic and the Pacific from Porto Alegre, Brazil, west to Coquimbo, Chile.
Uruguay plans to improve the rural roads network of the 18 department governments with support from two credit lines for an investment project totalling US$600 million with two initial loans completing US$150 million from the Inter-American Development Bank (IDB). The funds will support the implementation of rural roads construction in agriculture production areas, and will also be geared to improve and strengthen fiscal management and services at the departmental government level.
The United States is ending its policy of opposing most lending to Argentina from multilateral development banks, the US Treasury Department announced. US Treasury Secretary Jack Lew informed Argentine Finance Minister Alfonso Prat-Gay of the move on Thursday when the two met in Davos, Switzerland, the department said in a statement.
The US dollar in Argentina's foreign exchange market plunged on Friday 35 cents to 13.60 Pesos on the second day since President Mauricio Macri's administration decided to put an end to official restrictions for the purchase of greenbacks and other dealings with foreign currency.
Remittances to Latin America and the Caribbean set a new record high in 2014 with 65bn dollars basically supported by the recovery of the economy and labor market in the United States, according to the latest release from the Inter American Development Bank.
In his first activity since his designation as the new chief of the Argentine Central Bank, Alejandro Vanoli met on Thursday President Cristina Fernandez and Economy Minister Axel Kicillof in Olivos.
The Inter-American Development Bank (IDB) has approved a 40.9 million dollars loan from its ordinary capital and 25 million from the Canada Climate Fund, which is administered by the Bank, to finance the private sector in Uruguay in the construction, operation and maintenance of a photovoltaic solar energy plant and its related facilities.