The Latin American and Caribbean Development Bank (CAF) has allocated a $400 million loan to Argentina.
According to the announcement by Argentina’s Ministry of Economy, this move aims to improve a nutrition assistance initiative for the nation’s vulnerable groups.
At a CAF board session in Punta Cana, Dominican Republic, the “Plan Alimentar” loan received unanimous backing.
Argentina’s representation came from Pablo Quirno, the Secretary of Finance.
The ministry’s release highlights the loan’s role in strengthening the initiative, which directly benefits over four million people.
The effort supports families with kids up to 14 years old, pregnant women from their third month, disabled individuals, and mothers with many children on a non-contributory pension.
“Plan Alimentar” aims to provide vital nutrition to Argentina’s at-risk populations.
Even amidst fiscal tightening by President Javier Milei’s administration, this welfare scheme remains a key strategy.
It serves to protect families with low income from soaring prices and economic challenges.
Background
CAF’s financial aid arrives as Argentina confronts economic hardship, including longstanding issues like inflation.
The “Plan Alimentar” targets reducing hunger and poverty, intensified by these economic struggles.
This loan signifies global support for Argentina’s social initiatives, spotlighting the need for worldwide collaboration against poverty.
Amidst Argentina’s economic challenges, such as high inflation affecting citizens’ purchasing power, this program’s focus on the needy ensures the most vulnerable receive the necessary support.
It not only meets immediate nutritional needs but also promotes social stability.