WASHINGTON, 9th JUNE 2009: A new Country Partnership Strategy signed between the World Bank and Argentina Tuesday will provide 3,3 billion US dollar in development assistance for the South American country over the next three years.
This includes 840 million to clean up the Matanza Riachuelo river basin, the most polluted urban river system in Argentina, and provide 450 million to shore up funding for the countrys social safety net system in the midst of the global financial crisis, with additional projects in these areas to follow.
– The new [strategy] will help Argentina weather the international crisis, and also make some progress in some key, medium-term development issues, in particular reducing poverty and also helping in the infrastructure area, said Pedro Alba, the World Bank representative in Argentina. Alba added that at least 30 percent of the funds will be devoted to social protection given the impact of the financial crisis in the region.
Infrastructure growth, and governance will be the other focus of the CPS, with the Bank devoting funds to medium-term issues such as logistics and the environment. Governance projects will focus on public expenditure management in the provincial governments.
Largest Sanitation Project in Latin America
Alba said the Matanza-Riachuelo Basin Sustainable Development Project is the largest sanitation project the Bank has financed to date in Latin America, and will clean up a polluted river basin within the city of Buenos Aires. Given the size of and the amount of pollution in the Matanza-Riachuelo basin, the project could run for nearly 20 years.
– The basin is so dirty that it is affecting the health of 3.2 million people, of whom 1,2 million are poor, so it has a very important social impact as well, Alba said.
The Bank will work with Argentina to control the point sources of pollution into the river by controlling sewage, an “industrial reconversion” component to help small- and medium-sized businesses control their discharges into the river, and assisting municipal governments in the basin area with flood control.
Alba said that the Banks assistance will help Argentina continue to move forward towards a promising future.
– Argentina’s future is very bright, Alba said, noting that its highly-educated population and rich agricultural and mineral resources provide an excellent source of income for future growth.
Kilde: www.worldbank.org
