CABEI approves US$30 million loan to Argentina

Tegucigalpa, July 7, 2017. - The Central American Bank for Economic Integration (CABEI) approved a US$30 million loan to Argentina for the implementation of a Program to Support the Strategy for Extending Coverage and Access to Initial Education (PROCEI).

PROCEI, which is executed by the Argentinian Ministry of Education and Sports (MEyD), involves the construction and equipping of at least 29 educational centers for early childhood education using bioclimatic design elements and innovative constructive methodologies.

The program aims to increase educational coverage for more than 5,700 children between the ages of 3-5, belonging to socially vulnerable families in Argentina. It is estimated that the actions of PROCEI will be developed in the three provinces that present the greatest deficit of educational centers for initial education, including Buenos Aires, Córdoba and Tucumán.

The CABEI Board of Directors authorized the financing, which falls under the framework of the Bank’s 2015-2019 Institutional Strategy, specifically under the strategic axis of Social Development in the focus area of Human Development and Social Infrastructure.

With regard to Argentina from 2015 to date, CABEI, which is the leading provider of resources to the region, has approved US$170 million for interventions aimed at improving healthcare; social assistance, scientific, professional and technical activities; and construction and teaching initiatives.