Argentina Hopes To Secure $1 Billion From IDB

Argentina is hoping to secure up to $1 billion in loans from the Inter-American Development Bank (IDB) over the next few days. The loans are destined for various projects including electricity transmission, satellites and social programs. Of the $1 billion agreed, around $580 million is to be allocated to an electricity transmission project in the north of the country, linking the north-east with the north-west. Argentina is the second-largest recipient of IDB lending in the region, after Brazil and ahead of Mexico, according to the Bank’s president Luis Moreno.