October 24, 2014
Capitanich, Kicillof attend Brazil's BID summit
Cabient Chief Jorge Capitanich and Economy Minister Axel Kicillof were taking part of the Inter-American Development Bank 55th Annual Assembly today. The officials were expected to meet BID president Luis Alberto Moreno to address Argentina’s financial credit line for this year, estimated in 1.4 billion dollars.
On Friday, head of ministers Capitanich confirmed their attendance to the event taking place in the Brazilian city of Bahia. Among the 2.8 billion dollars Argentina is receiving this year from international credit organizations, half comes from the BID.
The Bahia meeting will take place till Sunday 30 when an economic report on Latin America and the Caribbean will be issued.
Two agreements signed worth US$274M
After a first meeting with BID representatives, Capitanich and Kicillof signed today two agreements worth a total of US$274M.
The first agreement aims to finance the “Bec.Ar” program, which funds scholarships for Argentine scientists. The BID will pay US$24M for the program and the Argentine Government will cover another US$2M.
The second agreement will fund the “Municipal Investments Program”. The BID will pay US$250M to “improve the lifestyle and wellbeing of the population through small and diverse infrastructure works that have strong social impact in low-income sectors”, as Chief of Cabinet Jorge Capitanich explained.