BBVA participated in the first of the two days of the economy, finance and investment exhibition EFI Expoorganized by Invecq Consulting and Messe Frankfurt Argentina.
During the meeting, Gustavo Pascualhead of Investment Banking & Finance at BBVA in Argentina participated in the workshop ‘Incentive Regime for Large Investments (RIGI) and Financing’, a panel sponsored by the Argentine Chamber of Mining Companies (CAEM) and moderated by its executive director, Alejandra Cardona. They were also present Flavia Royónformer Secretary of Mining of the Nation and Eduardo Gil Rocapartner of PwC.
Gustavo Pascual He opened the panel by highlighting that “sustainability is a strategic priority for BBVA and mining linked to the energy transition is a sector with growing attractiveness to receive financing for both producers and their suppliers.” And he explained that BBVA offers financing alternatives for mining companies and their suppliers both in long-term lines (local and with external funding) and for working capital. He also pointed out that the improvement of macroeconomic conditions together with greater political and legal stability are essential conditions to improve access to credit and enhance the development of the sector.
For its part, Eduardo Gil Roca He spoke about the need to have a fiscal order in Argentina that accompanies financing possibilities. Then he mentioned what, in his opinion, are the positive and negative points of the Large Investment Incentive Regime (known by its acronym as RIGI).
Next, Flavia Royón He expressed that there is no sustainable mining without development of local suppliers and labor since those who best understand the investor are the provinces because they know first-hand each of the projects. Finally, he expressed that the national production of LNG, hydrogen and copper, for example, would not be viable without the application of the RIGI since, although the regime is not perfect, it encourages important energy and mining projects for the provinces.
