January 14, 2019 |
The IDB said it has granted a $300m contingent loan for disaster relief in Argentina.
The Libor-based loan comes with a 25-year tenor and a 5.5-year grace period, the IDB said in a press release.
Argentina has seen 58 severe floods and three earthquakes in the past 50 years, causing more than $10bn in damages, the development bank said.
"As the effects of climate change intensify, the recurrence of extreme climatic events could increase in the country," the IDB said.
The regional developme
Multilateral lender grants a $300m standby loan for recovery from floods and earthquakes