Quito Historic Center Rehabilitation Project

                              ECUADOR


SECTOR:             Tourism

PROJECT NAME:       Quito Historic Center Rehabilitation Project
                    (822/OC-EC)

TOTAL COST:         $51.3 million

FINANCING:
      IDB           $41.0 million
    LOCAL           $10.3 million

DATE OF APPROVAL:   September 21, 1994

GENERAL DESCRIPTION: The long-range objective of this project is to preserve
                    and rehabilitate the Historic Center of Quito as a
                    cultural treasure, restore its functional importance,
                    revitalize traditional services and commerce by
                    affording easier access to the goods and services these
                    businesses supply and foster the appropriate use and
                    maintenance of its public and private buildings to make
                    them more attractive to visitors.

                    This program comprises rehabilitation of historic
                    buildings, upgrading of sidewalks, installation of
                    signs and other street facilities, construction of five
                    parking garages, establishment of a Rehabilitation
                    Fund, creation of a semi-public firm to promote private
                    investment in the historic center, as well as the
                    administrative, technical and managerial strengthening
                    of the executing agency, the Municipality of Quito. 
                    The program will also promote tourism, urban renewal
                    and historic preservation and help halt spreading urban
                    problems, such as traffic congestion, pollution, crime
                    and overcrowding.  The institutional strengthening of
                    the executing agency will assist it to develop its
                    managerial capacity, provide funds for studies and
                    complete an air pollution control system.

                    A central element of this project is the establishment
                    of a Rehabilitation Fund, using proceeds of the loan,
                    and the creation of the Historic Center Development
                    Corporation (a semi-public company) to execute the
                    programs and, using the Rehabilitation Fund, promote
                    private-sector investment in the Historic Center of
                    Quito.

CIVIL WORKS:        Civil works consist of urban infrastructure works, such
                    as sidewalk upgrading, placement of a complete set of
                    street furniture (such as bus stops and benches), and
                    installation of street and directional signs. The
                    construction of the parking garages will be tendered
                    separately.

CONSULTANTS:        International consulting services will be contracted
                    (24 person/months) to advise the senior management of
                    the Quito Historic Center Development Corporation on
                    the development and promotion of real-estate projects
                    in historic centers of cities, financial appraisal of
                    projects and urban economic development.

GOODS & EQUIPMENT:  Computer hardware and software will be procured.

EXECUTING AGENCY:   Asesoría de Relaciones Internacionales

ADDRESS:            Municipio del Distrito Metropolitano de Quito
                    Casilla 355
                    Quito, Ecuador
                    Telephone: (593-2) 571-875
                    Fax:       (593-2) 580-799