CABEI approves emergency cooperation to deal with Argentinian flooding

The Central American Bank for Economic Integration (CABEI) approved US$250 thousand in non-reimbursable financial cooperation to Argentina, which recently declared a national emergency due to heavy rains that resulted in overflowing rivers and flooding.

According to published reports, the flooding affected producers in the following provinces: La Rioja, Córdoba, Santa Fe, Entre Ríos, Chaco, La Rioja and Corrientes, which are key agricultural production areas in the country.

For CABEI, it is a priority to support its member countries in promoting initiatives that contribute to the development and wellbeing of their inhabitants. This financial aid demonstrates CABEI’s solidarity with Argentina, which is a non-founding member. The cooperation will be used to mitigate the damage caused by the floods and overflowing rivers.It is noteworthy that last year, CABEI approved a US$50 million loan to the government of Argentina to partially finance the implementation of a Program to Strengthen Research and Development Capacities (PROFOCAID). This was CABEI’s first operation in Argentina since its incorporation as a non-regional member country in 1995.