DEVELOPMENT PROGRAM FOR METROPOLITAN AREAS OUTSIDE THE CAPITAL (IADB-AR-O0001)

Countries
  • Argentina
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Inter-American Development Bank (IADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Oct 26, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
The Ministry of the Interior, Public Works, and Housing
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Infrastructure
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 240.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. 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, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IADB website

Updated in EWS Aug 11, 2017

Disclosed by Bank Jul 27, 2016


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
The objective of the conditional credit line is to enhance the quality of life of the population in metropolitan areas by improving urban services and infrastructure. The objective of the first individual operation is to improve public services and infrastructure in metropolitan areas that require cooperation between two or more territorial jurisdictions by: (i) fostering an understanding of the problems facing big cities and promoting agreements to prioritize actions that require coordination between municipal and provincial authorities of a metropolitan area; (ii) contributing to build the institutions necessary to deliver services and infrastructure in metropolitan areas that encompass two or more territorial jurisdictions; and (iii) financing investments in urban infrastructure and facilities to support such improvements. The first individual operation under the line of credit is classified as category “B,” as it could cause localized, short-term adverse environmental impacts especially during works execution, including associated social impacts, for which effective mitigation measures are available. The environmental and social impacts are expected by the IADB to be positive, improving the quality of life for inhabitants of the beneficiary metropolitan areas.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
The total amount of the project is US$300 million. The IDB will finance US$240 million of that amount, with a local contribution of US$60 million and a tenor of 15 years. The first individual operation under the project will be for US$100 million, with US$80 million in Bank financing and US$20 million as the local contribution.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
ACCOUNTABILITY MECHANISM OF IADB The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).

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