WASHINGTON — The Inter-American Development Bank (IDB) Board of Executive Directors has approved a Conditional Credit Line for Investment Projects (CCLIP) of $675 million to support a pioneering program aimed at optimizing public spending, improving road asset management, and preserving Uruguay’s National Road Network (RVN).
As part of this credit line, the Board approved an initial individual operation of $150 million to finance rehabilitation and maintenance works based on results. The works will initially focus on the National Route 8 corridor and later expand to other priority corridors in the country.
This first individual operation will benefit 167,000 people, with an initial impact on 59,000 residents in the area of influence of Route 8, which crosses the departments of Cerro Largo, Treinta y Tres, and Lavalleja. The operation will also promote regional integration, as the corridor connects with Brazil.
The program also stands out for its innovative governance and sustainability component, which includes adopting best practices in public investment management, updating sectoral plans, improving road asset management systems, and developing a plan to enhance the financial sustainability of the road sector. These improvements will enable Uruguay to manage its infrastructure more efficiently, thereby driving sustainable economic growth.
The first individual operation of $150 million has a repayment term of 22.5 years, an 8-year grace period, and an interest rate based on SOFR.
About the IDB
The Inter-American Development Bank (IDB), a member of the IDB Group, is devoted to improving lives across Latin America and the Caribbean. Founded in 1959, the Bank works with the region’s public sector to design and enable impactful, innovative solutions for sustainable and inclusive development. Leveraging financing, technical expertise, and knowledge, it promotes growth and well-being in 26 countries. Visit our website: https://www.iadb.org/en.
Simon,Luis Alejandro
Project Information
Uruguay and The IDB