Social Agenda and Economic Revival, CAF Tenets to Improve Well-being in Argentina

CAF—development bank of Latin America—ratified its commitment to the South American nation by approving and implementing programs and projects for more than USD 4 billion over four years, with an emphasis on social issues and economic revival with a high impact on the provinces and their municipalities. Thus, millions of Argentines are benefiting from CAF-funded programs, and seeing their quality of life improve.

In terms of promoting social policies in vulnerable sectors, 2020 approvals totaled USD 963.6 million. With rapid disbursement funds, a total of USD 340 million were allocated to provide an expedited and timely response to the unfavorable economic and social consequences of the COVID-19 pandemic, through the Support Program for provincial emergency assistance for USD 40 million, and the Support Program for the Argentine National Plan against Hunger in the COVID-19 Social-Health Emergency for USD 300 million, benefiting 2.9 million children aged 0 to 6, pregnant women and disabled persons. These initiatives aim to alleviate the emergency and high nutritional vulnerability of approximately one million families.

Also in 2020, four operations were approved for projects and investment programs totaling USD 618.8 million, including the Development and Manufacturing Project for the Second Generation Geostationary Telecommunications Satellite System: ARSAT-SG1 satellite, with a USD 243.8 million investment, which seeks provide internet access for 900,000 residents of rural areas mainly in Argentina, but also in Bolivia, Chile and Paraguay.

Other CAF-funded programs include the Municipal Infrastructure Development Program, with a USD 200 million investment, which aims to improve the social and productive infrastructure of approximately 67 municipalities home to nearly eight million residents.

Additionally, CAF has supported the Santa Fe + Conectada Program, with a USD 100 million facility, whose objective is to assist in laying nearly 3,400 kilometers of fiber optics to provide internet connectivity to approximately 150,000 people living in low-income neighborhoods in large urban agglomerates of the province of Santa Fe.

Furthermore, we supported the “Vuelta al aula” School Infrastructure Enhancement Project, with USD 75 million, for the construction of more than 75,000 square meters of new or improved school infrastructure, directly benefiting 80,000 students and more than one million indirectly, and contributing to the training of 70,000 teachers.

Assistance to Argentina has not only been of a financial nature, but also in knowledge and experience, as part of technical cooperation projects on key issues such as housing and urban development, education, water and sanitation infrastructure, transport and electricity transmission, with the aim of boosting productivity and helping improve the well-being of the population while reducing inequality.

Taken together, these initiatives seek to benefit millions of Argentines, improving their quality of life in specific, high-impact areas of their daily life. Thus, CAF continues to promote projects and initiatives aimed at reducing inequalities in Latin America, while remaining a strategic ally for the economic revival that the region needs after the COVID-19 pandemic. Continuing to build inclusive and sustainable development remains our priority.