Thus, the province of Santa Fe and the International Finance Corporation (IFC), a World Bank entity, established a long-term strategic alliance to support the implementation of an investment plan, based on a combination of financing and Technical consultancy.
According to Lifschitz, the province has made strong progress in getting the loan for 300 million, money that would be allocated entirely for pavements in towns of Santa Fe. This figure is consistent with the message sent by the provincial executive to the legislature this week, to request authorization for international indebtedness for the same amount.
"We had a very good meeting at the World Bank with the Argentine responsible to the entity, and the bank team, in which we reviewed different financing alternatives and where we took the final steps to get a loan for 300 million dollars to attend all the municipalities and communes of the province for the execution of urban paving. It will be effective in the first months of 2018, "the governor pointed out.
"It was very important the presence of politicians from all the political parties in Santa Fe in this mission, because after the President’s visit to New York a month ago in search of investments, today the province is coming back to attract potential investors and financing lines, giving a clear gesture of political dialogue and institutional stability, which serve as a sign to the world, " said the governor.
Afterwards, based on the agreement with the Government of Santa Fe, the IFC would also support technical advisories (TA) to the province in water, transportation, infrastructure projects and climate change.
After the Santa Fe legislature approves the indebtedness and the signing of a Mandate Letter with the IFC, the terms of the loan will be signed, which, according to what was discussed at the World Bank, would be during the first months this year.
The Washington tour included relevant meetings with the American Chamber of Commerce, the World Bank, and the Inter-American Development Bank.
The delegation led by Governor Miguel Lifschitz, was composed of senators Felipe Michlig and Armando Ferry, and the deputies Luis Rubeo, Julián Galdeano, Federico Angelini and Joaquín Blanco.
The Secretary of Finance, Pablo Olivares, the Undersecretary of Foreign Trade and President of Santa Fe Global Agency, Carlos Braga, and the Director of the Agency Débora Marini, also were part of the mission. Lifschitz came back to the country the following Saturday after the negotiations
MEETINGS AT THE INTER-AMERICAN DEVELOPMENT BANK
On the other hand, the governor of Santa Fe, along with the accompanying delegation, interviewed IDB President Luis Alberto Moreno, who showed a clear knowledge of the province and celebrated the visit. "The meeting with the Inter-American Development Bank was very important to analyze the different financing alternatives that the institution has for the province, both for the public and private sectors, and there was a great recognition to Santa Fe for its economic activity and institutional quality. The presence of the entire political spectrum that accompanied our delegation was also particularly stressed, explained Lifschitz. He added: "The meeting with the highest authorities of the IDB, in Washington, positions us in an unbeatable place to obtain credits for public or private projects in Santa Fe".
OPINION OF LEGISLATORS WHO WERE PART OF THE ENTOURAGE
Federico Angelini, member of Cambiemos, said, "We have had a great agenda for the future of Santa Fe. Governor Lifschitz’s initiative opens the possibility of receiving investments in the province of Santa Fe, as well as boosting local companies to export, to generate jobs and reduce poverty".
"The fact of being part of a delegation led by the governor accompanied by leaders representing the entire provincial political spectrum was taken as a gesture of maturity and advancement, which generated predictability for entrepreneurship."
"Then in the context of meetings with financial institutions such as the IDB and the World Bank, both open to Santa Fe, the possibility of financing essential works at very low cost. Argentina's insertion into the world, being predictable, makes Santa Fe be ahead of the rest of the provinces due to its low indebtedness and budget surplus, "concluded Angelini.
"The mission was totally successful, with the investors we were talking about, inviting them to make possible investments in Santa Fe, a province with diversity, with opportunities, with institutional and legal tradition and solidity. The mission was not only led by the governor, but also accompanied by legislators from all political sectors, "said Senator Felipe Michlig.
"The 300 million dollars are to carry urban pavement works in the cities and towns of our province, which is very encouraging, as they will improve the quality of life of the inhabitants. The works will also bring a response for agribusiness companies, as well as family farming, "he remarked.
ABOUT THE IFC
Member of the World Bank Group, it is the main international development institution dedicated to the private sector. Working in more than 100 countries to help eliminate poverty and promote shared prosperity.
It has a portfolio of loans and equity investments valued at USD 52 billion and 2000 active customers.
WHAT BENEFITS DOES A STRATEGIC ALLIANCE WITH IFC BRING?
Long-term relationship: IFC seeks to work with a select group of subnational governments in Latin America that are committed to sustainability and innovation through the reduction of the urban infrastructure gap, which in turn helps to improve the competitiveness and living conditions of their inhabitants.
Added value with technical advisories: IFC seeks to know first-hand the sub-national government strengths and areas of improvement to offer a combination of financing and technical advisories that meet the needs of the government, its neighbors and authorities.
International experts: It has a range of experts with global experience in various sectors relevant to sub-national governments in urban infrastructure issues.
Global exposure: Being an international entity with global presence in 183 countries, the IFC is a strategic ally that can help sub-national governments to position themselves internationally and to exchange knowledge.
Empowerment before climate change: cities generate approximately 70% of global greenhouse gas emissions. IFC supports sub-national governments to strengthen their capacities and be empowered to address climate change planning.
