Almost simultaneously with Luis Caputo’s return to the capital market after a seven-year absence, the IFC, the long private sector financial arm of the World Bank, founded announced a multi-million dollar package. Your vice president, the Spaniard Alfonso García Mora, tells us Clarion that it’s about them highest IFC investment (International Finance Corporation). A relief in times of negative reserves.
These days García Mora is in Buenos Aires finalizing several agreements that make up the IFC Add $2.4 billion for lithium mining in Salta that the landing would take a few weeks at most. “I don’t know whether before or after the Three Kings, but they will come,” he emphasizes with a smile. Estimates suggest that more money will be available to develop copper and other mining projects in Argentina a total of $5,000 million over the next two to three years.
“The lithium project is the largest that CFI has undertaken in Argentina . “The World Bank Group’s strategy focuses on strengthening the mining ecosystem as a whole, mobilizing the private sector, including provinces, infrastructure, energy, transport, logistics and coordination with universities,” he emphasizes in defense of responsible mining as it could not be otherwise.
The IFC is very active in the country. Partner of Central Puerto, the Reca, Miguens and Escasany families for a new power line in the NOA. It will support BBVA with a line of $150 million Financing for SMEs.
And it has a wide portfolio of customers, including Buquebus, Pampa Energía, Pan American Energy, Petrochemical Comodoro Rivadavia, Siglo 21, the Province of Córdoba, the City of Buenos Aires, the technology company NXTP, and the banks Galicia, Santander and Macro, among others.
A novelty in addition to the payouts is that after the consultation on the privatization of the São Paulo water company in Brazil (Sabesp), this is now the case Cooperation with the government on the privatization of Aysa.
García Mora has had a close relationship with the economic team for years and his schedule here is really hectic. under his Orbit has 680 investment brokers worldwide. And he feels something special about Buenos Aires: This is where he met his wife, a Belgian economist.
-What do you see in Argentina to provide these million-dollar loans and support the private sector? he was asked.
-The engagement with the government is an alignment of our capabilities and our strategy with the priorities in the sectors where support and a signal to the international market are required. Mining is a potential that Argentina has had for a long time, with a greater capacity than at present, not only in relation to the extraction of the mineral, but also in production, in the manufacture of products with the mined mineral. This implies a direct investment of $400 million and the mobilization of other investors that we bring thanks to our investment. This is the largest operation in history, costing $2.4 billion. The name of the selected company with Argentine and foreign capital and its project in Salta cannot yet be announced since it is listed on the stock exchange.
-Mining requires a social license and compliance with environmental standards…
-That the World Bank Group come and plan the operation and ensure that the company developing this mineral extraction and production adheres to international standards of best practices. We have a team of global experts working for us. We have been working in this company for two years. All environmental, social and financial modeling analyzes have been carried out.
-Is this project also going to RIGI?
-Exactly, he is one of the first to benefit from the incentive system for large investments.
-How is the privatization of Aysa going, which you recommend?
-We are committed to helping in this complex privatization what needed to change in terms of regulation, processes and trust. We have been working for many months. We were involved in the privatization of water in San Pablo, the largest we have ever carried out in the world. There is international interest in Aysa. And when these international companies enter, they also look for an Argentine partner to leverage local knowledge. We are in the specification phase.
-From your position at the World Bank, what awaits emerging markets in 2026?
-We live in a historical situation with a multitude of geopolitical conflicts. And of course that creates tensions, and not just because of the war in Ukraine in the center of Europe. In the last year and a half, there have been changes in government in important countries that are very significant in terms of understanding. Economic growth is at a very delicate moment. And the world is facing debt levels that are the highest in history, requiring investment while being over-indebted. In addition, there are disruptive processes such as artificial intelligence that are questioning the labor market. And everything happens when there is no great geopolitical cohesion.
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