40418 - Santa Fe Infra (IFC-40418)

Countries
  • Argentina
Where the impacts of the investment may be experienced.
Specific Location
Province of Santa Fe
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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.
Voting Date
Jul 27, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Governement of the Province of Santa Fe
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.
Loan 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)
$ 300.00 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 Jul 16, 2018

Disclosed by Bank Jun 20, 2018


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Project Description

The proposed IFC investment will support the Urban Streets Pavement Program (Programa de Pavimientacion de Calles a Nivel Definitivo y Cordón Cuneta en Distintos Municipios y Comunas de La Provincia de Santa Fé) of the Province of Santa Fé, Argentina (the “Borrower” or the “Province”). Specifically, this program will support paving of urban streets in municipalities and comunas (“MM/CCs”) throughout the Province. It will contribute to improve living conditions for approximately 200,000 residents. Benefits are expected to include reduction of waterborne diseases, improved delivery of public services (public transportation, waste collection) and real estate appreciation.

The proposed investment will finance pavement of existing urban streets and the program will not entail any construction of new streets or modification of the physical footprint of the existing roads. IFC investment consists of a senior loan of US$300 million to be committed in two tranches, for a total of US$150 million for IFC’s own account and US$150 million in mobilization.

Investment Description
  • International Finance Corporation (IFC)

IFC’s investment will be in the form of a US$300 million senior loan, composed of an IFC A Loan of up to US$150 million and mobilization for the remaining US$150 million. IFC’s investment will be committed in two tranches to finance a multi-year investment program and accommodate to its implementation schedule. The Province will on-lend the funds to the MM/CCs for implementation of the investments.

Contact Information

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

Gobierno de la Provincia de Santa Fe
Pablo Olivares
Secretario de Finanzas e Ingresos Públicos
+54 342 450 6802 / +54 342 450 6802
polivares@santafe.gov.ar
Centro Cívico: Av. Illía 1151 (S3000DWC) Santa Fe
https://www.santafe.gov.ar/
 

IFC requires local disclosure of the ESRS and ESAP in a culturally appropriate manner and language. The Province of Santa Fe will (i) create a website within the Province’s official site https://www.santafe.gov.ar/; and (ii) notify IFC of the date of local release and provide details of how it was undertaken (e.g. website link, etc.).