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IDB approves $2.5 billion for Brazil and Argentina

The Inter-American Development Bank today approved two loans to Brazil for a total of $2 billion to support small business and the social protection system and a $500 million loan to Argentina improve and streamline social assistance programs and policies.

A loan of $1 billion to Brazil’s Banco Nacional de Desenvolvimento Econômico e Social (BNDES) is part of a $3 billion line of credit, also approved today by the IDB Board of Executive Directors, to support micro, small and medium-sized enterprises.

A second $1 billion loan to Brazil was approved to strengthen the country’s social protection system, in particular the Bolsa Familia (family allowance) conditional cash transfer program.

A $500 million sector loan was approved to assist Argentina in improving and streamlining social assistance under its Argentina Avanza program.

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