Argentina to borrow $30 mln from Fonplata

Argentina to borrow $30 mln from Fonplata

Loans Project & Infrastructure Finance Argentina Latin America

Argentina's federal government said Friday that it has approved plans to borrow $30 million from Fonplata, the regional development bank for the Río de la Plata basin, to finance waterworks in Greater Buenos Aires. The eight-year loan will pay six-month LIBOR plus 228 basis points in the first four years, increasing to 254 basis points in the last four years, the government said in its official gazette. The reference rate is currently 0.25%. The government said the proceeds will be used for wate

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