IDB Approves Education Loan to Argentina

The IDB has approved a $2.7bn 9-year conditional credit line for investment projects in Argentina and a first $630m disbursement to support education. The loan is for a 25-year term, with a 3-year grace period with an adjustable rate of 5.64%, Marcelo Cabrol, education division chief of the bank tells LatinFinance. Local counterpart funds for the loan total $70m and for the credit line $300m.