A $200 million loan will contribute to access to public information, ethical conduct of public officials and management of the financial sector
Argentina will continue to strengthen the transparency and integrity reforms of public management that the government has been promoting since 2016, with the support of a $200 million loan from the Inter-American Development Bank (IDB).
The project is the second of two consecutive operations, the first of which was approved in August 2017, under the programmatic policy-based loan modality to support policy reforms. This new operation supports measures that implement greater access to public information by citizens and economic actors through the regulation of the Law on Access to Public Information.
The operation also focuses on issues of integrity of officials and reduction of impunity, recognizing the progress in the implementation of a gift registry and the implementation of the Arrepentido Law.
One area of special attention is providing more transparency in managing government resources in the procurement of public works, purchases and public employment. This includes the adoption of an electronic management system to contract public works bids, the concessions of public works and services, and licenses for 50 percent of public works executed by ministries.
The program foresees increasing the effectiveness of the financial system and reducing transaction costs, with the strengthening of transparency based on the adoption of measures aligned with the International Standards of the Financial Action Task Force (FATF) and IFRS, issued by the International Accounting Standards Board (IASC).
The IDB loan, for $200 million, has an amortization period of 20 years, a grace period of 5 and a half years and an interest rate based on LIBOR.
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 and provides policy advice, technical assistance and training to public and private sector clients throughout the region.