World Bank talks focus on $10 billion in private investment
Economy Minister Luis Caputo held a meeting with senior World Bank officials during the annual summit of the International Monetary Fund (IMF) in Bangkok, Thailand. The discussions centered on the possibility of expanding financing available to Argentina and advancing new investment projects. Participants included World Bank President Ajay Banga, Vice President for Latin America and the Caribbean Susana Cordeiro Guerra, and Alfonso García Mora, Vice President for Europe, Latin America and the Caribbean at the International Finance Corporation (IFC).[S1]
According to Caputo's posts on X, the meeting made progress on new projects with financing from the multilateral body and explored increasing funds allocated to the country, though no additional amounts were specified. A key focus was promoting private investment in strategic sectors of Argentina's economy. Caputo stated that work is underway to enable new private-sector investments worth USD 10 billion, without providing further details on the projects involved.[S1][S2]
The World Bank will also provide technical assistance for monitoring and executing projects linked to the Incentive Regime for Large Investments (RIGI), a central government tool to attract capital into sectors such as mining and energy. Caputo explained that the agenda aims to boost the country's mining and energy resources to increase exports, create jobs, and develop value chains. Opportunities were also identified to support the economic and financial inclusion of small and medium-sized enterprises.[S1][S2]
IDB and US Treasury meetings round out agenda
During his round of meetings with bilateral organizations, Caputo also met with Inter-American Development Bank (IDB) President Ilan Goldfajn. On Wednesday, the government finalized a $500 million loan from that entity to reinforce gas subsidies and the purchase of gas cylinders. Caputo said they discussed the organization's important support for Argentina's development and the reform process underway, as well as the current project portfolio and financing prospects for the coming year.[S1][S3]
Caputo also held a meeting with Erin Browne, Deputy Assistant Secretary for International Affairs at the US Treasury. He posted that beyond the advances achieved in the bilateral relationship and the agreements already signed, they agreed on the importance of continuing to deepen and strengthen ties between both countries.[S1]
The conversations took place as the economic team also works with the IMF to advance the third review of the current agreement, a step needed to unlock new disbursements. The government has not yet disclosed which projects make up the $10 billion figure, which companies are involved, or the execution timelines. No new disbursements approved by the World Bank were announced.[S3]
