Cordoba Infra (IFC-39283)

Countries
  • Argentina
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
GOVERNMENT OF THE PROVINCE OF CORDOBA
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 300.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 2,000.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 11, 2017

Disclosed by Bank Apr 11, 2017


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Project Description
The proposed Project involves a strategic engagement with the Province of Cordoba in the transport sector, with a focus on construction and improvement of critical road infrastructure. IFC will be a financing partner and solution provider to support the Province through a corporate loan of US$300 million and technical assistance for the development of its 2016-2019 provincial road investment program of US$2.0 billion. IFC financing will be split in two tranches, the first for US$100 million A Loan and US$50 million B loan, and the second for an equivalent amount. Specifically, tranche one includes the following three components: (i) Provincial Capital Ring-Road (“Circunvalación”) which involves the construction of 17 km of new dual carriage ways, underpasses and bridges to close the ring-road surrounding the capital of Cordoba. To accelerate implementation and facilitate oversight, the project has been divided in four segments to be procured separately. All construction work is expected to be developed by the concessionaire Caminos de la Sierra; (ii) Ring Road Access Avenue (“Costanera”) which involves the construction of an avenue linking the main intercity bus station located at the center of the Capital City to the ring road. It includes 6 km of dual carriage ways, a bridge and other infrastructure associated with the Avenue; and (iii) Alpa-Corral Road - Provincial Route 23 which involves the pavement of 67.6 km of roads in an area with high potential for tourism. Construction is expected to last two years for the Capital Ring-Road, 12 months for the Ring Road Access Avenue, and 18 months for Alpa Corral Roads - Provincial Route 23. These two latter components will be developed directly by the Province’s own road department, “Vialidad”. Projects to be developed under the second tranche are not defined yet, and will be agreed with IFC once tranche one has been fully disbursed.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
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