On August 22, 2023, the World Bank Board of Directors approved two new projects for Argentina. The first focuses on increasing access to financing for micro, small and medium enterprises (MSMEs) so that they can better mitigate and adapt to climate risks; while the second will help strengthen food programs.

The US$450 million Access to Sustainable Finance for Micro, Small and Medium Enterprises (MSMEs) project will provide financing through the Argentine Development Bank (BICE) that will reach more than 14,000 MSMEs and support them as they face climate risks and improve their ability to compete in green markets. The project will prioritize financing for companies led by women and vulnerable groups. It will also support, training and technical assistance, as well as strengthening MSMES institutional capacity.