ICBC Argentina provides donation of ARS 23.6 million to Argentina to fight COVID-19 in April 2020

📋 Staff Comments

1. Una Sola Hinchado is a campaign of GDFE Argentina and so GDFE is listed as a receiving agency.
2. The transaction amount has been recorded as ARS 23.6 million because this is the most conservative estimate from an official source. However, one ICBC source indicates the transaction amount of the donation from April 2020 was ARS 30,590,000. A Sina article reports the transaction amount for all of its donation programs was ARS 22 million. Lastly, another ICBC article published in May 2020 reports a 'more than' ARS 30 million donation. It is possible that (1) the donation increased to ARS 30,590,000 following the continued donation campaign from ICBC Argentina (meaning the additional funds came from private donors, rather than ICBC itself, and the more conservative ARS 23.6 million number correctly represents the ICBC donation), (2) the donation portion that came from ICBC Argentina was only ARS 22 million, and the remainder came from the continued campaign, (3) an additional ARS 6.99 million was donated by ICBC Argentina at the end of April, (4) another ARS 30,590,000 was donated in addition to the ARS 23.6 million. This issue warrants further investigation.
3. This project was previously linked to #91451, which captured a potential second donation to the same recipients from ICBC Argentina due to the multiple transaction amounts reported. However, it has been deactivated insofar as the two donations would have to be extremely similar, and there is a very high chance that the follow-up articles represented updates to the donation campaign – and thus the additional grant funds came from private donors – rather than a second donation from ICBC Argentina. This is additionally supported by Sina's reporting in late May 2020 that only ARS 22 million had been donated, as well as the lack of specific handover dates or language about where funds were coming from.
4. Although one ICBC article regarding the April 2020 donation lists only Argentina Nos Necesita, Una Sola Hinchada, Seamos Uno, and the Ministry of Health (and 'others') as the recipients, the other ICBC article adds the Garrahan Hospital, COAS, and CEMIC also as recipients of the April donation. The more expansive list has been included as recipients.

📚 Sources & References

• COVID-19: ICBC ARGENTINA DONA MÁS DE 23 MILLONES DE PESOS Y LANZA CAMPAÑA DE RECAUDACIÓN DE FONDOS
• COVID-19: ICBC ARGENTINA DONA MÁS DE 30 MILLONES DE PESOSY CONTINÚA CON SU CAMPAÑA DE RECAUDACION DE FONDOS
• 工商银行疫情期间为中国与阿根廷经贸往来提供全面金融支持
• En ICBC le decimos sí al compromiso de ayudar
• ICBC ARGENTINA DONA MÁS DE 30 MILLONES DE PESOS PARA PALIAR LA CRISIS DEL CORONAVIRUS
• ICBC Argentina dona más de $23 millones
• ICBC Argentina dona más de 30 millones de pesos y lanza campaña de recaudación de fondos. #EsLaHoraDeAyudar. Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.