arabtoday
Last Updated : GMT 21:10:09
Arab Today, arab today
Arab Today, arab today
Home » Banks

World Bank approves $5.3bn program for Argentina

Arab Today, arab today

Arab Today, arab today World Bank approves $5.3bn program for Argentina

The Argentine Central Bank in downtown Buenos Aires
Washington - AFP

The World Bank announced Tuesday a new aid strategy for Argentina worth up to $5.3 billion over the next three years aimed at increasing the incomes of the country's poorer families.
The fiscal 2015-2018 package will fund a number of different programs "selected for their contribution to achieving sustained poverty reduction and shared prosperity," in the troubled country, the World Bank said.
Targets include increasing the value of agricultural production on some 80,000 small and medium-sized farms, and expanding national healthcare coverage from 28 percent to 50 percent.
The money will come from the World Bank Group's main development finance unit, the International Bank for Reconstruction and Development, and its private sector arm, the International Finance Corp.
The IBRD will provide up to $1.2 billion a year, on a project by project basis, while the IFC will invest in total $1.7 billion over the period.
World Bank Group executive directors "broadly endorsed" the strategy Tuesday but each project and its allocation will need specific approval.
The announcement came as the Argentine economy struggles with high inflation and accelerated capital flight, partly due to the government's July default on its debt and the threat that that will lead to much more severe economic problems.
"The World Bank will be supporting Argentina in reaching the most vulnerable in society, especially in the lowest income areas of the country," said Jesko Hentschel, World Bank country director for Argentina.
Axel Kicillof, Argentina's minister of finance, welcomed aid focused on job creation and infrastructure development.
"In the past 10 years, Argentina has gone through an historical process of development based on employment and production," he said in a statement.
"We are aware that industrial revitalization is the only way for Argentina to achieve sustained and socially inclusive growth."

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today world bank approves 53bn program for argentina Arab Today, arab today world bank approves 53bn program for argentina

 



Arab Today, arab today
Arab Today, arab today Adidas Originals ‘reinterpreted’

GMT 14:52 2016 Thursday ,01 December

Adidas Originals ‘reinterpreted’
Arab Today, arab today At Milaidhoo Island, Maldives

GMT 08:42 2016 Wednesday ,07 December

At Milaidhoo Island, Maldives
Arab Today, arab today Paris's matchbox apartments

GMT 10:37 2016 Saturday ,24 September

Paris's matchbox apartments
Arab Today, arab today At least 50,000 Daesh fighters killed

GMT 07:57 2016 Friday ,09 December

At least 50,000 Daesh fighters killed
Arab Today, arab today 'Rookie' Trump must fall into line

GMT 08:02 2016 Tuesday ,06 December

'Rookie' Trump must fall into line
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today The summer school raising aspirations

GMT 12:49 2016 Tuesday ,06 December

The summer school raising aspirations
Arab Today, arab today Ryan Gosling, Emma Stone immortalized

GMT 12:31 2016 Thursday ,08 December

Ryan Gosling, Emma Stone immortalized
Arab Today, arab today Australia's Rinehart, China group

GMT 10:02 2016 Friday ,09 December

Australia's Rinehart, China group
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Hyundai allows Saudi journalists

GMT 15:14 2016 Thursday ,01 December

Hyundai allows Saudi journalists
Arab Today, arab today Latest Infiniti QX to compete

GMT 13:16 2016 Saturday ,26 November

Latest Infiniti QX to compete
Arab Today, arab today France bets on Bollywood

GMT 10:48 2016 Tuesday ,06 December

France bets on Bollywood
Arab Today, arab today Swiss unveil stratospheric solar plane

GMT 13:47 2016 Thursday ,08 December

Swiss unveil stratospheric solar plane

GMT 11:20 2016 Monday ,05 December

By glorifying Soviet WWII 'myth'

GMT 10:52 2016 Tuesday ,06 December

Vanessa Redgrave makes directing

GMT 04:15 2016 Thursday ,30 June

World's largest uncut diamond fails

GMT 11:39 2016 Tuesday ,06 December

Indonesia expands protection

GMT 15:59 2015 Wednesday ,27 May

Seoul elevates gardening to high art

GMT 12:39 2016 Saturday ,26 November

Skin patch could help kids

GMT 13:17 2016 Friday ,25 November

Ajman Tourism launches time capsule

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 09:53 2016 Sunday ,15 May

OMEGA official timekeepers
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Powered and Developed by FilmMatters

Copyright © 2016 Arabtoday

Developed by FilmMatters

© 2016 Arabtoday

arabtoday arabtoday arabtoday
arabtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabtoday, Arabtoday, Arabtoday