The Inter-American Development Bank (IDB) has approved a $20 million loan from the reorientation of its portfolio resources with Argentina to enhance the effectiveness, coordination and management of Strategic Government Programs, while focusing on response and recovery from the crisis triggered by the COVID-19 pandemic.
The operation is part of a $1.8 billion support program that the IDB has earmarked for Argentina this year.
The program will help organize and more efficiently execute policies and programs that support government priorities for crisis management and preparing for economic recovery in response to the impacts of COVID-19. In addition, it will improve the management and performance of priority government policies with a direct impact on the services provided to citizens.
In this sense, it will focus on the quality of planning, monitoring, decision-making and evaluation of strategic government programs, and will contribute to strengthening innovation capacities and promoting innovative practices on public policies in public administration, with the participation of the private sector and civil society.
Among its components, the operation will strengthen the functions of the Government Center within the scope of the Secretariat for Strategic Affairs. It also includes the generation of a training plan and change management strategies to be used by the different entities responsible for implementing the defined government priorities, as well as quick assessments and strategies that support project implementation and its compliance.
Additionally, the creation of a Multisectoral Government Innovation Council and the implementation of a program of government innovators will be supported, which will be made available to State agencies to support the development of projects.
With respect to innovations in the private sector and civil society, the program will finance the implementation of an innovation laboratory to improve responses to government priorities, as an agile connection mechanism between all parts of the innovative ecosystem that can contribute and take advantage of scientific, technological and social solutions that are scalable and sustainable.
The IDB loan of $20 million has an amortization period that ends on February 15, 2042, a grace period through August 15, 2025, 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.