PROJECT

Projects

Summary of Investment Information

Project Number

38533

Company Name

CIUDAD AUTONOMA DE BUENOS AIRES

Date SPI Disclosed

Oct 27, 2016

Country

Argentina

Region

Latin America and the Caribbean

Projected Board Date

Nov 30, 2016

Environmental Category

B - Limited

Status

Active

Last Updated Date

Aug 27, 2017

Department

Regional Industry INF LAC & EUR

Industry

Infrastructure

Previous Events

Approved : Apr 3, 2017
Signed : May 29, 2017
Invested : Aug 25, 2017

Sector

Municipal Finance - Transport and Roads [Project only]

Project Description

The proposed IFC corporate loan will support Buenos Aires’ 2016 – 2017 investment program of around US$800million in critical transport infrastructure. The IFC financing package will consist of a US$75 million A-Loan and a US$75 million B-Loan. A law will be passed in the City of Buenos Aires (CABA or the “borrower”) legislative body to allow the City to enter into the loan agreement with IFC. The use of proceeds are the following: (i) improvements to, and modernization of different (existing) components of Metro Line B, to allow for improved service quality and higher train frequency; (ii) investments for the construction of phase 1 (3.5 km) of the bus rapid transport (BRT or “metrobus”) system linking Paseo Colon to Avenida Alem, extending from Retiro Station to Avenida Independencia; and (iii) construction of the Pacifico bus distribution terminal (collectively the “project”).

The project supports CABA's strategy to enhance urban mobility and connectivity through an increasingly integrated, efficient and environmentally friendly public transport system.

Associated Advisory Engagement

N/A. On the date of disclosure there are no associated advisory services engagements.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation