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Govt requesting US$400mn World Bank loan for northern highways (Argentina)
2010-11-10
Argentina's government is seeking a US$400mn loan from the World Bank's International Bank for Reconstruction and Development (IBRD) for a provincial highway improvement program.

 

The project consists of repairing road surfaces and paving, as well as ancillary work and safety improvements on highways in the Norte Grande region, which encompasses nine northern provinces.

 

The loan request identifies three highways in Chaco, Tucuman and Corrientes provinces, stretching 59.5km, 86.8km, and 66.5km respectively, as the first to be eligible for funding.

 

Argentina will provide US$100mn in counterpart funding for the initiative, according to World Bank project documents.

 

Of the total funding, US$35mn will be used to strengthen the institutional capacity of the region's provincial highway administrations, including collecting data, training staff and preparing maintenance plans and performance reports.

 

The World Bank's board is expected to render a decision on December 20.


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