The $59.4 billion ANSES, Argentina’s National Social Security Administration, and the $256 billion Qatar Investment Authority are setting up a $1.3 billion fund focused on infrastructure projects in Argentina, which is thesecond-largest economy in South America.
The Qatar Investment Authority plans to invest $1 billion over the next three years, while ANSES will contribute $300 million. The fund’s initial focus will be infrastructure projects but could extend to other areas including energy.
The agreement emphasizes a push by the Argentine government to stimulate investment in infrastructure in Argentina. Argentine president Mauricio Macri announced plans to invest more than $26 billion in infrastructure over the next four years, the bulk of it coming from the private sector.
In other news, Qatar Investment Authority recently acquired Asia Square Tower 1 in Singapore for approximately S$3.4 billion ($2.45 billion) in June, marking the largest single-tower real estate transaction in Asia Pacific to date.