World Bank approves $295 million for Argentina’s strategic ecosystem management

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The World Bank Board of Directors today approved two loans totaling $295 million to support the labor force inclusion of vulnerable groups and support the sustainable management of the country’s strategic ecosystems.

“We are committed to ensuring that the recovery that Argentina’s economy is experiencing reaches all of our citizens and, within the framework of sustainability, we are committed to promoting vocational training, vocational training and formal employment to those who face the greatest difficulty in accessing and remain in the labor market,” said Claudio Moroni, Minister of Labour, Employment and Social Security of the Argentine Republic.

The $250 million project, Promoting Better Jobs through Integrated Labor and Skills Programs, aims to improve employability and strengthen the quality and availability of training programs , with a focus on women, youth, men over 45 and members of some vulnerable groups (including Indigenous peoples, Afro-descendants, people with disabilities and LGTBI+ people) who experience the highest rates of unemployment, underemployment and informality.

“These first two projects are part of our support for 2022. From the World Bank we accompany Argentina’s efforts towards inclusive growth. Improving quality employment opportunities for those hardest hit by the crisis while promoting a green recovery that improves the resilience of ecosystems and local communities is crucial,” said Jordan Schwartz, World Bank Director for Argentina, Paraguay and Uruguay.

This funding supports the new employment support scheme created by the national government in November 2021 to help around 600,000 people looking to enter the labor market, with a particular focus on women. A core area of ​​the project will be career guidance and job search support, together with the provision of vocational training, including skills development in sectors with high growth potential (e.g. jobs in the digital economy, climate resilient and low carbon jobs, etc.). .). The most vulnerable are eligible for an economic grant to participate in the program.

Argentina’s $45 million Sustainable Landscape and Livelihood Restoration Project will help improve ecosystem management and resilience in 13 landscapes and seascapes vulnerable to climate change, while providing opportunities for local communities improve. In addition, the country will receive a $12 million grant from PROGREEN, the global partnership for sustainable and resilient landscapes.

The project aims to increase the climate resilience of landscapes such as the Yungas, Paraná Rainforest, Chaco Forest, Patagonian Glaciers and Southern Oceans through land use planning, habitat protection and infrastructure construction, among others. More than 15,000 people from communities in the project’s sphere of influence are expected to benefit directly, and around six million people could benefit from increased local economic activity, including tourism.

To encourage investment in northern Argentina’s forest landscapes most at risk of deforestation and poverty, the project receives a grant from the PROGREEN partnership.

The Promoting Better Jobs through Integrated Labor and Skills Programs project has an adjustable-rate loan payable in 32 years with a seven-year grace period. The Sustainable Recovery of Landscapes and Livelihoods project also has a variable spread loan with a 34-year term and a seven-year grace period.

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