FONPLATA grants additional funding to Argentina to address the COVID-19 pandemic
The Development Bank approved new disbursement of more than one million US dollars for the purchase of appropriate protective material (face masks, hand sanitizer, coveralls, disposable gloves, sanitary masks, among others) to help strengthen the services needed to guarantee hygiene in Argentine Border Centers, as well as for the implementation of a monitoring system consisting of a 360 dome.
These funds correspond to the activation of the "contingent situations" provision of the ARG-35/2017 loan transaction granted by FONPLATA to the Argentine Republic for the partial funding of the "Infrastructure Program for Integration" and which, at this time, allows the country to have 5% of the total amount allocated to the service of mitigating the health and social emergency caused by the COVID-19 pandemic.
This disbursement adds to the more than US$53 million that Argentina received from FONPLATA to address the effects of COVID-19 and that the country will apply to strengthen its response measures to mitigate the health and socioeconomic emergency caused by the pandemic.
In response to the coronavirus health emergency in the region, the Development Bank made available to its member countries a special non-reimbursable cooperation fund, special funding lines to address the situation through fast-track procedures for approval and disbursement, and agreed on the possibility of restructuring existing loans.