The Province of Buenos Aires will improve the efficiency in the administrative and technical management of public investment processes with help from a US$20 million loan from the Inter-American Development Bank (IDB).
The main expected outcomes of the operation include improving the province’s Economy Ministry’s capacity to formulate, program, and evaluate Public Investment Projects and an increase in the budgetary execution of capital spending at the Infrastructure and Public Services Ministry and the General Directorate of Culture and Education through an upgrade of the Public Investment Projects management.
The program will benefit residents of 135 municipalities where both the province and the Financial Infrastructure Fund invest in these areas. It will also have a positive impact on 1.03 million families by supporting plans to provide drinking water and sewerage services, as well as 3.7 million schoolchildren who will profit from planned school infrastructure construction and maintenance projects.
One of the program’s components will strengthen the provincial public investment system and enhance the local Economy Ministry’s ability to conduct timely Public Investment Projects’ formulation, programming and assessment.
The second component will optimize the province’s Infrastructure and Public Services Ministry and the General Directorate of Culture and Education investment execution by improving management so they can speed up project delivery.
The IDB’s US$20 million loan is for a 25-year term, including a 5.5-year grace period, at a LIBOR-based interest rate. It includes an additional US$5 million in local counterpart funds.
About the IDB
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.
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