CABEI approves US$400 million for Argentina to improve food supply for 2.4 million vulnerable families
This is the second approval by the multilateral for the financing of the “Argentina Against Hunger Plan” (Plan Argentina contra el Hambre PACH).
San José, March 01 ,2023 - In order to provide food assistance to socially vulnerable people in Argentina, including children, adolescents, pregnant women and people with disabilities, the Central American Bank for Economic Integration (CABEI) approved US$400 million to finance the "Argentina Against Hunger Plan(PACH).
These resources are expected to benefit 2.4 million families in the country's 24 jurisdictions through Alimentar, a PACH instrument that seeks to improve the quality of food for the most vulnerable families, guaranteeing rights for early childhood through access to the basic food basket, and which in turn promotes the mobilization of trade and local food production.
"The allocation of these resources reiterates the commitment we have as a Development Bank to support programs and projects focused on reducing poverty and inequality in our member countries, positively impacting the quality of life of millions of Argentineans," said CABEI's Executive President, Dr. Dante Mossi.
This operation is the second approved by CABEI for PACH, the first was in November 2022 for US$50 million. Today's approval incorporates investments for linking the Republic of Argentina with Central America, with the purpose of promoting technological innovation in information systems for the execution of food security policies.
The financing terms are established for a 20-year term, including a five-year grace period and a competitive annual interest rate.