does not fall into the category of a “COVID-19 Project,” the Argentine government resorts to it in the context of the pandemic and with the objective of promoting economic reactivation. It is worth noting that this regional undertaking was classified as an environmental and social category “C” project, in accordance with the IDB’s Environment and Safeguards Policy. This implies that, according to the Bank, the project would generate minimal or no negative environmental and social impacts. However, the problem regarding the bank’s technical cooperation and financing in socio-environmental terms lies in the social and environmental impacts of the promotion of the mentioned extractive activity, seen as a tool for post-pandemic economic reactivation. • From the following table it can be concluded that most of the COVID-19 Projects under preparation or implementation in Argentina in the period covered correspond to the IDB and the World Bank, which account for 11 of the 14 projects, that is, 79 % of the total. In addition, they accumulate 94% of the assigned amounts. However, it is worth recalling what has already been stated regarding the fact that among the projects included under the IDB heading there are at least two that consist of a reallocation of funds from other projects already approved. In fact, those two mentioned projects would involve USD 970 million. That is, almost 98% of the funds allocated to COVID-19 Projects by the IDB. COVID-19 PROJECTS IN ARGENTINA FINANCIAL INSTITUTION NUMBER OF PROJECTS % AMOUNT IN USD MILLIONS % IDB 7 50% 990 54% WORLD BANK 4 29% 735 40% CAF 1 7% 40 2% FONPLATA 1 7% 15 1% CABEI 1 7% 50 3% TOTAL 14 100% 1,830 100% Source: own table. �� Regarding the type of projects, 6 of the 14 COVID-19 Projects are Loan Operations (42.8% of the total), while 4 are Technical Cooperation (28.6% of the total) and 1 is a Program-forResults Financing14 (7.2% of the total). The 3 remaining projects (21.4% of the total) are listed as “Undefined,” as such information is not publicly available. It should be noted that this lack of information represents an important limitation to fully understand the type of projects that the DFIs are financing in the context of the pandemic, and should be an aspect to be corrected by them. • Regarding the Environmental and Social Impact Category, 5 of the 14 projects (35.7% of the total) were categorized as “C,” 2 as “B” or “Moderate Risk” (14.3% of the total), and in 6 cases (42.8% of the total) the categorization of the project was not specified (“N/A” or “Undefined”). 14. The Program-for-Results (PforR) financing instrument was developed by the World Bank Group to address the growing demand for programs that help deliver sustainable results and build institutions. Using a country’s own institutions and processes, PforR links disbursement of funds directly to the achievement of specific program results. This approach helps build capacity within the country, enhances effectiveness and efficiency and leads to the achievement of tangible, sustainable program results. It also supports government programs and helps leverage World Bank development assistance, by fostering partnerships and aligning development partner goals and results to national programs (GICA, n.d.). 18 DFIs FINANCING IN ARGENTINA DURING THE PANDEMIC: COVID-19 PROJECTS AND TRANSPARENCY SHORTCOMINGS