November 1, 2013
The IDB has agreed to loan $300m to Argentina to improve roads in its North
The IDB has agreed to loan $300m to Argentina to improve roads in its Northern region, it says. The 25-year loan has a 5.5-year grace period and pays an undisclosed Libor-based interest rate. Local counterparts will add another $33.5m, the development bank adds. The Formosa, Santiago del Estero, and Tucuman provinces are expected to benefit from the financing first, followed by Misiones, Jujuy and Catamarca.