The MCC, which sent a touring team to the country in January and February this year under former England captain Mike Gatting, is donating 2,500 dollars towards the installation of the pitch at St George's College in Quilmes, 18 kms south of Buenos Aires.
ICC will match this donation by adding a further 2,500 dollars to the project.
It will be Argentina's fourth such pitch and with the college already boasting a ground with an artificial surface and artificial nets, the addition of the new facility will make the venue an outstanding resource.
''This development is a major milestone for the long term future of cricket in Argentina,'' President of the Argentine Cricket Association (ACA) Ricardo Lord said in a statement.
''The new turf pitch will add to Argentina's drive to elevate their status in the global cricket world, not only on the playing field, but also in terms of being able to host major international tournaments,'' ICC Regional Development Officer Grant Dugmore added.