On the other hand, financing is being directed mainly towards the public sector (70% vs 30% towards the private sector) and towards the sectors of Health (26.2%), Law & Government (15.4%), Micro, Small & Medium Enterprises (MSME) & Midcaps (15.3%) and Banking / Finance (15.2%). WHERE IS THE MONEY GOING? PUBLIC SECTOR $102.8B | 70% PRIVATE SECTOR $43.5B | 30% WHICH SECTORS? HEALTH 26.2% TRANSPORT 1.9% LAW & GOVERNMENT 15.4% WATER & SANITATION 1.7% MSME & MIDCAPS 15.3% TOURISM 1.3% BANKING / FINANCE 15.2% MANUFACTURING 1.1% SOCIAL / VULNERABLE HOUSEHOLDS 7.4% TELECOMMUNICATIONS 0.9% ENERGY & EXTRACTIVES 3.5% CLIMATE 0.8% AGRICULTURE 3.3% FOOD & BEVERAGE 0.4% EDUCATION 3.3% HOUSING 0.2% PPP / PRIVATE SECTOR RECOVERY 2.0% ENERGY 0.1% Source: Early Warning System COVID-19 DFI Tracker. Retrieved May 14, 2021, from: https://public.tableau.com/ profile/iaptableau#!/vizhome/EarlyWarningSystemCOVID-19ProjectsbyDevelopmentBanks_16049749996170/ Main?publish=yes Regionally, in 2020, the loan portfolios of the different Latin American and Caribbean banks increased in almost all of the countries, giving an insight into the countercyclical effect produced by the institutions during crisis situations. The analysis of a sample of 66 of the region’s public finance institutions revealed that 71.2% raised their portfolio balances by an average of 21% (ALIDE, 2021a). In 2020, these institutions allocated the equivalent of USD 93 billion in the region 16 DFIs FINANCING IN ARGENTINA DURING THE PANDEMIC: COVID-19 PROJECTS AND TRANSPARENCY SHORTCOMINGS