IDB approves 300 million dollars loan for north Argentina road network

Thursday, October 31st 2013 - 06:35 UTC

Full article 9 comments

The Inter-American Development Bank (IDB) has approved a 300 million dollars loan to finance a multiple-work road program aimed at improving the conditions of accessibility, efficiency, and safety of priority roads of Argentina’s Norte Grande Region’s provincial road network and at contributing to the area’s sustainable economic development. Read full article

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Clyde15
The picture reminds me of the song “We're on the road to nowhere”
Oct 31st, 2013 - 11:53 am - Link - Report abuse 0
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golfcronie
Since the beginning of the year Argentina has borrowed US$ 518,255,299.00
from the IDB, I wonder how they pay it back?
Oct 31st, 2013 - 12:18 pm - Link - Report abuse 0
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Conqueror
@2 Don't be silly. They have no intention of paying anything back. I doubt whether they even have any intention of using the money for roads. Still, it's always a good idea to know where to target the bombs and missiles.
Oct 31st, 2013 - 12:30 pm - Link - Report abuse 0
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Mr Ed
@3 Just let the potholes do the work for us, the aircraft fall out of the sky if they make it, the ships are undergoing low-cost conversion to submarines.

Mind you, I have just uncovered an Al Qaeda plot to bring chaos to the UK's transport infrastructure, they plan to sit and watch.
Oct 31st, 2013 - 01:13 pm - Link - Report abuse 0
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CabezaDura
If the loans are for those provinces and are going to be taken full responsibility by those governors, then I fully agree. What I don’t want is more international loans to the central government who will miss use the money and make us all pay the debt and the interests. If they have defaulted and managed to live on the counter all along better remain like that through what is left of the term in office....
Oct 31st, 2013 - 03:54 pm - Link - Report abuse 0
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ChrisR
This is the bit I thought was really funny:
“The 300 million IDB loan is for a 25-year term, with a 5-1/2-year grace period and at a LIBOR-based interest rate.”

A five and a half year grace period! Ha, ha, ha. More like the period over which the argies will loose all the documents and claim it never happened and it wasn't them.
Oct 31st, 2013 - 04:17 pm - Link - Report abuse 0
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golfcronie
PSSST, I know people in the CITY that can fix the LIBOR rate for you. Oh Shit they have already been caught. Never mind always another time.
Oct 31st, 2013 - 09:04 pm - Link - Report abuse 0
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A_Voice
Who says Argentina doesn't have friends.....

Non-borrowing owners of the IDB
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
Oct 31st, 2013 - 09:59 pm - Link - Report abuse 0
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yankeeboy
This is more to do with the fact that for the 1st time in it's IDB borrowing history Arg has paid more into IDB than they have taken out.
Also approval is not disbursing
We should hear pretty soon from the WB Exec Comm too.
Nov 01st, 2013 - 12:14 pm - Link - Report abuse 0
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