The government has won a battle against the president of the Inter-American Development Bank, Mauricio Claver-Carone.

He knew Clarione sources of the emblematic regional bank that its board of directors notified the Secretariat for Strategic Affairs of the Presidency – which deals with these issues – had approved a $ 200 million project.

The news comes after Claver-Carone wrote in a letter to The Wall Street newspaperl in which said that Argentina has% 20% C3% ADa% 20conditions% 20per% 20approval% C3% B3n% 20di% 20cr% C3% A9ditos.%winds

Clear% C3% DNA% 20asked% C3% B3% 20in% 20of the office% 20% 20del% 20secretary% 20del% 20Hires% 20Strat% C3% A9gicos,% 20Gustavo% 20Beliz% 20e% 20in% 20del% 20ministero% 20del% 20Econom% C3% ADa % 20of% 20qu% C3% A9% 20è% 20treated% 20this% 20cr% C3% A9dito% 20e% 20pending% 20a% 20response% 20ma there was an atmosphere of satisfaction.

The following is the statement posted on the IDB page and dated this Wednesday.

“PRESS RELEASES – July 27, 2022

IDB approves a $ 1.14 billion credit line to Argentina for the decarbonisation of the energy sector

The Inter-American Development Bank (IDB) has approved a conditional credit line of 1.14 billion dollars for investment projects, with the aim of promoting the decarbonisation of the energy sector in Argentina.

The IDB Group remains committed to supporting Argentina’s development agenda with projects that have a direct impact on development. Under the credit line, a first operation of 200 million dollars has been approved by the IDB, which will have an additional contribution of 100 million euros from the French Development Agency (AFD) and another 100 million euros by the European Investment Bank (EIB).

This first operation aims to contribute to the decarbonisation of the electricity sector through the reduction of its greenhouse gas emissions and to human development, through the expansion and modernization of electricity transmission systems.

Among the investments to be carried out there are the works that will allow the upgrading and modernization of the transmission systems located in various provinces of the country. Works that allow the reduction of greenhouse gas emissions, increasing the transport capacity of renewable energy, reducing technical losses and eliminating the production of electricity based on diesel will be privileged.

Likewise, these investments will allow the improvement of the quality and reliability of the service to respond to the new demand deriving from the growth trend and greater electrification of energy consumption, allowing greater production development in the provinces.

As part of the design of each of the interventions, measures will be considered to increase resilience and improve adaptation to climate impact. In addition, the program will allocate funds for the reforestation of trees and native species, in areas to be agreed with the forest authorities of each province.

The operation will also support the development of a gender and diversity policy for the Federal Electric Transport Trust Fund, together with an action plan with specific measures for transmission works with the aim of achieving greater participation of women. to the sector (currently less than 20%) and mitigate gender-based violence during all phases of the project.

This operation is in line with Vision 2025 – Reinvest in the Americas: A Decade of Opportunities, created by the IDB to bring about the recovery and inclusive growth of Latin America and the Caribbean, in the sectors of the digital economy, climate change and gender and inclusion.

The $ 200 million IDB loan has a repayment term of 25 years, a grace period of 5.5 and a half years and an interest rate based on the SOFR ”.

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