The Inter-American Development Bank (IDB) has approved a $150 million loan to enhance social integration and housing conditions in Argentina. The program will benefit more than 8,000 vulnerable households in and around low-income neighborhoods.
The initiative aims to strengthen institutional management of issues such as informal settlements, helping to prevent their growth and the formation of new ones.
An estimated 45% of low-income neighborhoods are located in areas that are exposed to environmental risks and the effects of climate change. For this reason, the loan will fund the development of systems that can process information on climate vulnerability. Additionally, the housing projects under this operation will follow criteria related to resilience, energy efficiency, and environmental sustainability. The initiative will also create gender-focused housing solutions and improve connections to public services.
This financing, which was approved by the IDB's Executive Board, also seeks to improve the urban environment and increase land tenure security for residents of low-income neighborhoods. Steps to enhance the urban environment will include building potable water and stormwater drainage networks, installing street lighting, or distributing electricity in vulnerable neighborhoods.
This operation will also include studies to identify gaps in social services and ways to expand coverage.
The IDB loan has a 25-year repayment period and a 5-year grace period.
About the IDB
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social, and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research projects and provides policy advice, technical assistance, and training to public- and private-sector clients throughout the region. Access our virtual tour.