Argentina is โขpoised to โreceive up to $4 billion in accelerated support from the World Bank, following a meeting between President Javier Milei andโ former U.S.โข President Donaldโค Trump. The funding, announcedโฃ by Argentina’s Minister of โEconomy Luis Andrรฉs Caputo, aims to bolsterโฃ the contry’s economic reforms and long-termโ growth agenda amidst a period of notable economic restructuring under the new Milei management.
The World Bank’s accelerated support package combines public sector financing withโ private sector investment andโค mobilization, focusing on key sectors including mining, tourism, energy access, and strengthening supply chains and small and medium enterprises. While the operations require approval from the World Bank Executive Directors Board, Caputo described the prospect as “exciting,” signaling a potentialโ turning point for Argentina’s economic outlook.
Caputo announced the advancement on his X account, stating the World Bank Group would deploy up to US $4,000 million in the coming months. “The World Bank Group announced todayโข that it is indeed accelerating support to argentina, combining public โsector financing with investment and mobilization of the private sector to deploy up to US $ 4,000 million in the coming months inโ support of the country’s reform path and its long -term growth agenda,”โ he wrote.
Details regarding โthe specificโฃ type of support remain limited, with facts scarce even compared to whatโ the US Treasury shared with the argentine government, according to initial reports. โ
The โขannouncement follows โฃa meetingโข between Milei and Trump,which Caputo also described as “exciting.”
With information from Federico Jofre, Max Saltman and Billy Stockwell, from CNN.
