US invests $400M on Argentina's road works

By Beyza Binnur Donmez

ANKARA (AA) - The U.S. on Thursday has approved a $400 million investment in Argentina's highways to support country's commerce for "a healthier economy" during the Ivanka Trump-led women empowerment visit.

Ivanka Trump, a White House adviser and President Donald Trump’s eldest daughter, announced the public-private partnership in roadworks during a visit to the country as part of her Latin American trip, according to local daily La Nacion.

The announcement was made in Jujuy, northwestern city of Argentina, where Ivanka Trump met with Argentina's Foreign Minister Jorge Faurie and Transportation Minister Guillermo Dietrich.

The Overseas Private Investment Corporation (OPIC), the U.S. government agency for development finance, will provide the funding, reported the agency's CEO David Bohigian.

“Safe highways and road networks that support commerce are critical to creating a healthier economy for the people of Argentina," Bohigian said in a statement.

“OPIC financing will support the rehabilitation of this major route, increasing opportunities for trade while reducing accidents and fatalities," he added.

Stressing that OPIC's commitment in Argentina is "very important", Faurie said the visit by the Trumps is a ''show of confidence''.

Argentina's Transportation Ministry said the money will be used to finance road works on national routes 7 and 33, the daily reported.