IDB approves $500 mln loan to Argentina to fight climate change
BUENOS AIRES, Nov 30 (Reuters) - The Inter-American
Development Bank (IDB) has approved a $500 million credit line
to Argentina to mitigate the impacts of climate change, its
Economy Ministry said in a statement on Wednesday.
The loan will be granted with a single payment in December,
the ministry said, adding it is linked to targets looking to
mitigate and adapt to the impacts of climate change.
"This loan focuses on supporting climate planning
capacity, promoting green finance and promoting the circular
economy," it said in the statement.
"This is a clear example of Argentina's commitment to
policies to combat climate change," it added, pointing to
effects such as floods and a
prolonged drought
that is causing the country heavy agricultural losses.
(Reporting by Carolina Pulice and Maximilian Heath; Editing by
Sarah Morland)
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