The Inter-American Development Bank (IDB) has approved a $300 million loan to support early literacy in Argentina. It is the first individual operation of a conditional credit line for investment projects to support the improvement of comprehensive literacy in the country for up to $1 billion.
The program aims to improve teaching of reading skills in basic education by training 390,000 teachers for reading instruction, among other initiatives.
The operation will finance the maintenance and expansion of the number of public primary schools that incorporate additional time for teaching reading skills.
Despite the high level of participation in the educational system, not all students acquire the necessary skills in their educational journey. Learning difficulties are linked to the limited development of foundational skills including basic math, the use of digital technologies, and science. These skills are known as comprehensive literacy.
The loan, the first individual operation of a conditional credit line for investment projects (CCLIP), will finance the delivery of books for primary students, books for students with hearing or visual disabilities, mobile libraries, and literacy kits, among other resources.
The program will also allow technical teams to better monitor and evaluate educational programs and improve coordination between the national and subnational levels of the education system.
The IDB loan of $300 million has a disbursement period of four years and an interest rate based on SOFR.
This first individual operation under the CCLIP will include $500 million in parallel financing from the World Bank Group. Thus, it falls within the framework of the Memorandum of Understanding between the IDB and the World Bank Group, the objectives of which include addressing the digital divide in education that is so prevalent in the region.
About the IDB
The Inter-American Development Bank (IDB) is devoted to improving lives across Latin America and the Caribbean. Founded in 1959, the IDB works with the region’s public sector to design and enable impactful, innovative solutions for sustainable and inclusive development. Leveraging financing, technical expertise and knowledge, it promotes growth and well-being in 26 countries. Visit our website https://www.iadb.org/en.
Planes,Maria Soledad
Argentina and the IDB
The Country Office of Argentina focuses on assisting the most vulnerable segments of the population affected by the economic crisis and COVID-19 pandemic, while also helping to stabilize the macroeconomic environment and fostering an agenda of economic recovery and sustained poverty reduction.
Project Information
First Individual Operation: Program To Support The Federal Policy For Enhancing Early Literacy (Ar-L1377)