The Inter-American Development Bank (IDB) approved a USD 200 million loan for the reconstruction of Bahía Blanca, following the catastrophic flood on March 7.
According to the official statement "the Inter-American Development Bank (IDB) and the National Government of the Republic of Argentina agreed to join efforts to address the devastating floods that have affected the city of Bahía Blanca, using a flexible and innovative financial mechanism designed for emergency situations."
This financing was granted through the Contingent Credit Facility for Natural Disaster and Public Health Emergencies (CCF), a key instrument in other emergencies, such as the earthquake in Ecuador in 2016 and Hurricane Dorian in the Bahamas in 2019.
In addition to the loan, the IDB approved a non-reimbursable technical cooperation of USD 200,000 for immediate emergency response efforts. "We are with Bahía Blanca," expressed the president of the IDB, Ilan Goldfajn, reaffirming the international organization's support for the deplorable situation.
