• Undoubtedly, the high percentage of projects that correspond to the Health sector are mainly explained by the pandemic, since most of these projects are aimed at strengthening the national and subnational health system and the response efforts against the COVID-19 pandemic.Thus, these projects, mainly financed by the IDB and the World Bank, are particularly oriented towards increasing the institutional and response capacity at the country and subnational level.9 • In relation to the Transport sector, most of the projects correspond to Loan Operations aimed at improving the services and conditions of road and rail transport in Argentina, and are mainly financed by the IDB. • Regarding the Law & Government sector, the projects are both Loan Operations and TCs aimed at improving the efficiency and at strengthening key functions of the national and subnational governments. As several of these projects are aimed at improving the institutional capacities of the public sector to face the pandemic, in many cases they also correspond to the Health sector.10 • The projects that correspond to the Social Investment sector consist mainly of TCs oriented to the development of public and social protection policies for children, workers, women and populations in a vulnerable situation in Argentina. It should be noted that, despite the characteristics and objectives of these projects, only 1 of the 6 projects that correspond to this sector is considered a “COVID-19 Project.”11 • Lastly, the projects that correspond to the Financial Markets sector are mainly oriented towards contributing to increase the competitiveness and productivity, and support the sustainability, of Micro, Small and Medium-sized Enterprises (MSMEs). In some cases they are designed in support of employment in Argentina in the context of the crisis generated by the COVID-19 pandemic, by promoting the economic recovery of MSMEs. • On the other hand, the “Regional” projects in which Argentina is included, and have been approved or are under preparation in the stipulated period, total 14 projects, of which 9 are under preparation and 5 under implementation. They correspond to 5 financial institutions: the IDB (8 projects), IDB Invest (2 projects), the WB (1 project), CAF (1 project) and the US DFC (2 projects). • Most of the regional projects are Technical Cooperation (7 projects) and/or fall under environmental and social category “C” (8 projects). But this categorization can in some cases be at least problematic, as in the case of the IDB project RG-T3588: Innovation for Pasture Management12. Although this TC is categorized within environmental and social risk “C”, the characteristics of the project, the objective of which is to “Improve the self-sufficiency and sustainability of livestock intensification by increasing at least 30% of the pasture harvest, produced on family farms in the Southern Cone and Central America,” lead to the consideration that it may have important environmental and social impacts mainly associated with land use and livestock intensification, depending on the way the project is carried out. Unfortunately, as in most projects of this type, the information available regarding the project is very scarce, which makes it impossible to ascertain its particular characteristics in depth. 9. Further analysis of these projects is carried out in the next section. 10. Further analysis of these projects is carried out in the next section. 11. Further analysis of this project is carried out in the next section. 12. Regional Project which includes Argentina, Belize, Brazil, Costa Rica, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay and Uruguay. 14 DFIs FINANCING IN ARGENTINA DURING THE PANDEMIC: COVID-19 PROJECTS AND TRANSPARENCY SHORTCOMINGS