President Fernández celebrated “the speed” with which the World Bank approved the loan and, in addition to thanking the agency, stressed that “the financial world has a share of humanity and I celebrate it”
The government of Argentina reported today that the country will receive “budgetary support from the world Bank for $ 300 million “to strengthen the social protection system and minimize the crisis in the most vulnerable sectors.
During a video conference between the Argentine president Alberto Fernández and the operations manager of the financial entity, Axel van Trotsenburg, it was detailed that the loan will be used to strengthen the social programs of National Administration of Social Security (ANSES).
With this amount, the president specified, 350 thousand children will benefit through the Project for the Protection of Children and Youth of the National Administration of Social Security, who have not been able to access the Universal Child Allowance benefit.
Likewise, the national government detailed that this allocation of 300 million dollars will be made in two parts: “the first, during 2020, for 165 million dollars; and the second, in 2021, for 135 million.”
For its part, the Argentine news agency Telam stressed that the director of the world Bank for the Argentina, Paraguay and Uruguay, Jordan Schwartz, mentioned that “the Argentina It is in the midst of fighting against COVID-19, which generates new demands for public investment, so that in view of this difficult health and financial situation, the world Bank supports investments to protect the most vulnerable. “
President Fernández celebrated “the speed” with which the world Bank approved the loan and, in addition to thanking the agency, stressed that “the financial world has a share of humanity and I celebrate it.”
The local press points out that this new line of credit for the southern country joins two current operations with the agency, which are for a total of 1,350 million dollars “which is intended to expand the coverage of the allocation Universal by Son.