International Cooperation: CDP supports Argentina’s healthcare

International Cooperation: CDP supports Argentina’s healthcare

A financing contract to support the local health system and a new project to strengthen cooperation in South America

Rome December 4,2017

A new initiative attests to CDP’s commitment to International Cooperation. Argentina will benefit from a financing agreement signed by the Argentine Ministry of Finance and supported by the Italian Foreign Ministry to help the South American nation’s public health system.

The aid credit aims to finance development of measures within the health system to fight communicable diseases, the renewal of the emergency vehicle fleet, and basic assistance of the peripheral centers and hospitals.

The initiative signed by CDP, in the role of manager of the Revolving Fund for Development Cooperation, will allow for the purchase of diagnostics equipment and financing assistance services to strengthen hospital management in cardiac, ocular, and neonatology assistance.

The ultimate goal of the operation is to support the growth of the Argentine health system, thus preserving the country's social balance.

In order to achieve this goal, CDP is working, in synergy with the Italian Embassy in Buenos Aires, on a project to obtain additional community financial resources to strengthen technical health assistance sector, guaranteeing the recruitment of personnel and the purchase of medical machinery with low energy consumption.

The project will be submitted to the European Commission and include the contribution of the LAIF facility (Latin American Investment Facility), one of the structures through which the European Union implements blending policies in the field of international cooperation. Blending makes it possible to combine EU resources and borrowing - or capital- public and private resources to ensure the effective and sustainable implementation of strategic projects aimed at achieving sustainable development objectives. LAIF, like the other seven facilities, is the structure that facilitates the launch of this economic strategy.

In this case, the project could widen the scope of participation of the Italian Embassy and support new initiatives to help the national health system, through the financial support of the European Union.