World Bank Group Supports Argentina's Economic Reforms with Innovative Package to Mobilize $2 Billion in Commercial Financing
Argentina, June 17 -- The World Bank and MIGA Boards of Directors approved an innovative financing package to support Argentina's reform agenda and help restore its access to international capital markets. The transaction will?lower?Argentina's?financing costs while supporting a broader reform agenda aimed at creating jobs, attracting investment into infrastructure, and improving?financial inclusion?for smaller?businesses, among other measures.The financing combines two World Bank Group guarantees?to help mobilize up to?$2 billion?in commercial loans:?a?first-loss?Policy-Based Guarantee?(PBG) from the International Bank for Reconstruction and Development (IBRD) and a second-loss guarantee from the Multilateral Investment Guarantee Agency (M...
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