Argentina secures US$3.5b in new financing from World Bank

[BUENOS AIRES] Argentina has secured US$3.5 billion in new financing from the World Bank over the next two years to help fund water, health and housing projects as well as a child welfare programme, the Finance Ministry said on Friday.

The financing, which will be in addition to an impending disbursement of US$2.8 billion, will be welcome hard currency for the center-right government of Mauricio Macri which is having to rebuild the country's low foreign currency reserves.

REUTERS