The World Bank Supports Green Development, Inclusion and Innovation in Argentina’s Agricultural Sector
WASHINGTON – The World Bank Board of Directors today approved a US $400 million loan to implement climate-smart, innovative practices to boost the productivity and competitiveness of Argentina’s agri-food system.
“This initiative contributes to social, productive and sustainable inclusion and is a priority focus area in one of the most dynamic sectors of the Argentine economy”, said Gustavo Béliz, Secretary of Strategic Affairs for the Government of Argentina.
The Climate-Smart, Inclusive Agri-Food Systems project fosters green development through investments in climate-resilient infrastructure. It also encourages private investment to increase producers’ market access and profitability, reduce vulnerability to climate change and support innovation and the introduction of modern technologies.
“As part of the post-pandemic recovery, it is important to invest in the climate resilience of a key sector of the Argentine economy — such as agriculture– and to improve the productive capacities and income of the country’s most vulnerable rural families,” said Jordan Schwartz, World Bank Director for Argentina, Paraguay and Uruguay.
Some 93,000 people, including producers, agricultural workers, micro, small and medium-sized agricultural enterprises and associations of producer families, will directly benefit from project investments. Young people, women, and individuals from vulnerable groups such as indigenous and Afro-descendant communities will account for 25 percent of project beneficiaries.
The project will focus on stimulating job creation and increasing producers’ income. Infrastructural improvements will center on connectivity (digital services, rural roads, etc.) and water resource management (irrigation, drainage, etc.). It will also support private initiatives to build capacities, improve living conditions of the most vulnerable sectors and promote the sustainability of small and medium-sized export-oriented producers.
Finally, the project will seek to support institutional strengthening processes in the National Agricultural Technology Institute (INTA) to promote its leadership in innovation and climate resilience in the agri-food sector.
Financing for the Climate-Smart, Inclusive Agri-Food Systems project is a variable-margin loan with a maturity period of 34 years and a seven-year grace period.
Comments are closed.