Government approved financing contracts from the International Banks for Reconstruction and Development (IBRD), Inter-American Development Banks (IDB) and Central American for Economic Integration (CABEI) for a total of US $ 780 million to attend health and innovation projects and rural development.
It did so through decrees 676/2021, 679/2021 and 680/2021 published today in the Official Gazette.
The loan of the IBRD is for US $ 500 million and is destined to financing the Emergency Project for the Prevention and Management of the Disease by Covid-19 in Argentina.
The credit is for 19 years, with five of grace, for which it will begin to be paid in 2026 and will end in 2040.
For its part, the IDB will contribute US $ 230 million to the Federal Innovation Program (PIF), in a loan 25-year term and an interest equivalent to the six-month Libor rate, currently at 0.17463% per annum.
The general objective of the program is to strengthen close the capacities of the public and private actors of the National Innovation System (SNI) to improve the productivity of companies and to strengthen the capacities for action in the face of the challenges facing Argentina.
Finally , CABEI will finance the Post-Emergency Rural Recovery and Development Program with US $ 50 million.
The loan is for a 20-year term, with a five-year grace period, and an interest rate that will be made up of the six-month Libor that can be reviewed and adjusted every six months, plus a margin established by CABEI, which is currently 240 basis points, which can be reviewed quarterly during the term of the loan.
The general objective of the program is contribute to sustaining and consolidating agro-productive, agro-industrial and service activities that generate income and employment for the rural and semi-rural population, in the context of crisis defined as post-health emergency by Covid 19.
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