Neighborhood Improvement Program III

The third proposed operation continues to pursue the aim of the CCLIP and has the general objective of helping to improve living conditions for the inhabitants of informal settlements and rundown areas. Its specific objectives are to: (i) foster urban integration by providing formal basic infrastructure and adequate social and urban services, while guaranteeing secure property tenure and enhancing social capital, taking climate change issues into account; and (ii) provide affordable housing to low-income population groups, while restoring rundown urban spaces in Montevideo's historic downtown area.

Project Detail

Country

Uruguay

Project Number

UR-L1146

Approval Date

November 1, 2018

Project Status

Implementation

Project Type

Loan Operation

Sector

URBAN DEVELOPMENT AND HOUSING

Subsector

NEIGHBORHOOD UPGRADING

Lending Instrument

Investment Loan

Lending Instrument Code

INV

Modality

GOM (Global of Multiple Works Operation)

Facility Type

Environmental and Social Impact Category (ESIC)

Category A: Likely to cause significant negative impacts, or have profound implications affecting natural resources

Total Cost

USD 100,000,000.00

Country Counterpart Financing

USD 30,000,000.00

Original Amount Approved

USD 70,000,000.00