The Inter-American Development Bank (IDB) has approved a $13 million loan for a program to strengthen Argentina’s Ministry of Economy and Public Finance. The program’s goal is to increase the role of economic policy in medium- and long-term sectoral policies in areas such as regional development, science and technology, employment, and agriculture and agribusiness.
The program also aims to improve the process of economic policymaking and associated technical skills as well as coordination between the Ministry of Economy and Public Finance and the ministries responsible for the development of the sectoral policies.
“The operation responds to the Argentine government’s interest in promoting the planning of medium- and long-term policies, improving technical and interagency coordination capabilities to encourage greater dialogue and coordination in crafting economic and sector policies,” said IDB project team leader Juan Carlos Cortázar.
The program includes training in knowledge management, information management, management of contingent liabilities and records, and instruments for coordination and institutional alignment.
Activities include a technical training plan consisting of postgraduate studies and courses, implementation of a Knowledge Activities Fund, and a scholarship program for young professionals.
The IDB loan is for 25 years, with a four-year grace period and a variable interest rate based on LIBOR. Local counterpart funding totals $5 million.