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Buenos Aires Governor Kicillof turns to BRICS for financial help

Friday, March 22nd 2024 - 19:27 UTC
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During the videoconference, Kicillof (R) explored the possibility of the province getting a loan from the NDB During the videoconference, Kicillof (R) explored the possibility of the province getting a loan from the NDB

The governor of the Argentine province of Buenos Aires Axel Kicillof Thursday held a video conference with BRICS bank chairwoman and former Brazilian President Dilma Rousseff to “strengthen collaboration ties and discuss investment opportunities” for the country's largest territory, according to a statement from the Peronist/Kirchnerite leader's office.

The investment portfolio of the BRICS' New Development Bank includes infrastructure programs in transport, renewable energy, water and sanitation, urban development, and environmental projects, among others. Argentina had been invited to join the alliance effective Jan. 1 but the offer extended during Alberto Fernández's term was declined once the Libertarian Javier Milei took office on Dec. 10 last year.

“Strengthening ties with the organization is essential to continue providing answers and transforming the lives of the people of Buenos Aires,” Kicillof explained on social media.

The possibility of the province getting loans from the NDB was also explored during the encounter, it was reported.

Kicillof, a former Economy Minister under Cristina Fernández de Kirchner (CFK) has close ties with Brazilian President Luiz Inácio Lula da Silva of whom Rousseff was his dauphine. At the same time, Milei and Lula do not see eye to eye following the Argentine's remarks against the PT leader during his electoral campaign.

The Shanghai-based NBD was founded by Brazil, Russia, India, China, and South Africa. The loans it grants are mainly oriented to infrastructure projects and can amount to US$ 34 billion annually, it was explained.

Rousseff took over as NDB president in April 2023 and will remain at that post until the end of Brazil's rotating presidency in July 2025.

Categories: Economy, Politics, Argentina.

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  • imoyaro

    Sure! Give me free money!

    Mar 24th, 2024 - 11:00 am 0
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