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Argentina finalizes agreements with World Bank for 845 mln USD

Xinhua, July 13, 2016 Adjust font size:

Argentina has approved agreements with the World Bank for 845 million U.S. dollars in the last two weeks, Argentine Economy Minister Alfonso Pram-Gay announced Tuesday, along with the bank's Managing Director Sri Mulyani Indrawati.

The funds are raised for three projects. First, Argentina will launch the Comprehensive Network Program for Protecting Children and Youths with 600 million dollars to deal with poverty problems and improve living conditions for children in vulnerable situations.

Meanwhile, 200 million dollars will be allocated to mitigate the effects of climate change by preventing possible floods in the Arroyo Vega basin in Buenos Aires.

In addition, 45 million dollars will be used to promote productive projects, such as productive innovation in small- and medium-sized enterprises.

According to Mulyani, the World Bank congratulates "Argentina on its effort to allow a new framework" to be drawn up and pledges to support all the social protection policies and to improve the country's infrastructure. Endi