Argentina and the US sign US$7 billion ‘Andes-Atlantic Corridor’ initiative

Argentina and the United States inked a US$7 billion initiative dubbed the 'Andes-Atlantic Corridor' on Wednesday, aimed at bolstering strategic infrastructure by 2027. The deal, signed in New York by Foreign Minister Pablo Quirno and U.S. Deputy Secretary of State Christopher Landau, focuses on energy, mining, transport, and telecommunications projects.

Designed to enhance connectivity between Argentina's productive centers in the Andes and Atlantic ports, the financing will primarily support the Vaca Muerta gas export project. The remaining funds will be allocated to critical minerals, transport, and telecommunications initiatives. The agreement introduces financial mechanisms to lure U.S. companies into Argentine infrastructure projects, leveraging tools from the U.S. Export-Import Bank and International Development Finance Corporation, as well as private capital.

Argentina pledged to improve its investment legal framework and establish predictable rules for infrastructure concessions, with RIGI as a key tool to attract capital to megaprojects. The project targets investments in pipelines, power generation and transmission, railways, waterways, ports, and critical minerals like lithium and copper, alongside telecommunications expansion and satellite technologies.