IDB Announces $3.8 Billion Loans for Argentina
A lasting transformation would hinge on the private sector creating jobs, Goldfajn explained
Argentina’s President Javier Milei’s administration is set to receive loans totaling US$ 3.8 billion from the Inter-American Development Bank (IDB) for various projects, energy subsidies, and social plans, according to reports over the weekend.
IDB CEO Ilan Goldfajn stated that US$ 2.4 billion will be allocated to the public sector this year, with an additional US$ 1.4 billion to be disbursed over the next two years for private agribusiness, infrastructure, energy, and mining projects.
Goldfajn emphasized the need for collaboration between the public and private sectors to improve investment conditions and achieve sustainable growth. He praised Milei’s Government for making significant progress in restoring fiscal balance and highlighted the importance of efficient public spending and social protection programs.
The IDB CEO stressed the role of the private sector in creating jobs and the public sector in providing regulation and social protection for economic stability and growth. He also commended Milei’s deregulation efforts and favorable business climate as catalysts for economic dynamism.