Investments will focus on the Norte Grande region, where people have less access to services than those in the rest of the country
The Inter-American Development Bank (IDB) approved a $250 million loan for a program to increase coverage of basic services in Argentina’s less developed municipalities, with emphasis on the poorest areas of the Norte Grande region.
The Municipal Investment Program seeks to provide large low-income populations with infrastructure and public services in such sectors as water and sanitation, roads, street lighting, drainage, green spaces, community facilities, and strengthening of neighborhoods.
"This program supports Argentina's efforts to narrow gaps in access to basic infrastructure between the country’s more and less developed municipalities," said IDB project team leader Veronica Adler.
Program activities include support for weaker municipalities in project formulation, monitoring the execution of works, and providing training for municipal planning and public works employees.
Although many municipalities throughout Argentina lack adequate infrastructure, the problem is particularly serious in the Norte Grande, in the northwestern part of the country, where access to services generally―and particularly in small municipalities―is below the national average.
The IDB loan is for a term of 25 years, with a 5-½-year grace period, and a LIBOR-based interest rate. Local counterpart funding totals $28 million.
- Carlos Pauletti
(598) 2915-4330 X274124