24090 - GCP

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Summary of Proposed Investment

Project Number

24090

Company Name

Municipality of Guatemala

Date SPI Disclosed

Dec 30, 2004

Country

Guatemala

Industry

Infrastructure

Projected Board Date

Feb 3, 2005

Status

Completed

Sector

Transit and Ground Passenger Transporation

Date Revised SPI Disclosed

Jul 13, 2005

Department

Regional Industry - INF LAC

Environmental Category

C - No Impact

Previous Events

Approved : Nov 1, 2005
Signed : Dec 28, 2005

Project Description

The Municipality of Guatemala City has a $45 million capital expenditure program to mainly develop the first phase of a Mass Transit System (MTS) within the city. This segregated busway will improve public transport through a combination of: route restructuring; replacement of existing fleet with high-capacity buses; and creation of dedicated lanes, transfer stations and bus stops. To finance these investments, a local bank has helped the city partially to raise a syndicated loan from national banks. The purpose of the project is to provide part of the funds (and technical assistance) to close the syndicated loan and support the underlying investments. In the event that there are still funds available after the completion of the first phase of the MTS project, these funds could be used for other infrastructure projects of the Municipality.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee	6.63
Loan
Equity

Development Impact

The proposed project will help the Municipality of Guatemala diversify its funding sources and finance priority mass transit assets that will help reduce traffic congestion, user travel time, and traffic accidents for the residents of the City. In addition, by restricting entry of extra-urban buses, the MTS will help prevent the further deterioration of historically important buildings and structures in the City. IFC’s role includes providing additional comfort to other potential investors and support to the City in arrange corporate governance, environment and social issues.

Segregated busways have shown to be among the more environmentally effective approaches to public mass transit in the developing world. Experience from such projects as TransMilenio, the bus rapid transit system for Bogota, Colombia has demonstrated reduced air emissions, noise, and fatalities from traffic accidents as a result of such busways. In addition to environmental benefits there will also be fuel efficiency gains. On the social benefits side, one can also expect users to experience significant savings in travel time.
Location of environmental documents in locally affected community

Contacts

For Inquiries About the Project, Contact

Mr. Juan Roberto Brenes Concejal Tercero Municipalidad de Guatemala Palacio Municipal, 6º Nivel Desarrollo Metropolitano Guatemala, Guatemala Phone: (502) 285-8081

This Summary of Project Information (SPI) is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC's activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC's Disclosure of Information Policy that went into effect September 1998.

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