Washington DC, September 7, 2022 - Today, the World Bank Managing Director of Operations, Axel van Trotsenburg met with Sergio Massa, Minister of Economy. Mr. van Trotsenburg and Minister Massa discussed Argentina’s macroeconomic situation and highlighted the strong relationship between the World Bank and Argentina.
Minister Massa presented the program that the Government is putting in place to build international reserves and stabilize macroeconomic conditions in Argentina. Mr. van Trotsenburg acknowledged the importance of the government’s efforts. The Minister and Mr. van Trotsenburg confirmed their commitment to continue working together to promote inclusive and sustainable growth in Argentina.
The World Bank has been partnering with Argentina for decades. Over the last few years, this partnership has been strengthened, and the World Bank has approved new lending worth $3.73 billion focused on investment and growth programs including support for those most in need. This year, the World Bank has already approved $1.1 billion of new projects and confirms about another $900 million planned over the next six months.
The Government of Argentina has conveyed that they will disburse about $500 million of World Bank financed projects over the next 4 months. This will include support for the wastewater works in the Matanza-Riachuelo, universal health system, capacity building for employment creation, and social protection measures for poor children under the AUH program.
The Bank portfolio in Argentina is valued at $9.1 billion, comprising of 25 projects for a total of US$8.6 billion plus an IBRD Guarantee of US$466 million.