Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Argentina
Location: Buenos Aires
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.
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • International Finance Corporation (IFC)
Status: Approved
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.
Board Decision Date: 2017-04-03
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 or Client: GOVERNMENT OF THE AUTONOMOUS CITY OF BUENOS AIRES
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Infrastructure
  • Transport
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 150.00 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): $ 800.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ IFC website
Updated in EWS: 2017-08-11
Disclosure Date: 2016-10-27
City of BA
IFC-38533

Project Description
The proposed IFC corporate loan will support Buenos Aires' 2016 - 2017 investment program in critical transport infrastructure. A law will be passed in the City of Buenos Aires (CABA or the "borrower") legislative body to allow the City to enter into the loan agreement with IFC. The law will include the definition of the use of proceeds, which are the following: (i) improvements to, and modernization of different (existing) components of Metro Line B, to allow for improved service quality and higher train frequency; (ii) investments for the construction of phase 1 (3.5 km) of the bus rapid transport (BRT or "metrobus") system linking Paseo Colon to Avenida Alem; and (iii) construction of the Pacifico bus distribution terminal (collectively the "project").The project supports CABA's strategy to enhance urban mobility and connectivity through an increasingly integrated, efficient and environmentally friendly public transport system.
Investment Description
The metro system is owned by Subterraneos de Buenos Aires S.E. (SBASE), of which CABA is the main shareholder. The concession to operate and maintain the metro system was awarded to Metrovias in 1994. SBASE was transferred ownership of the metro system from the federal government in 2012. Metrovias is the only private sector concessionaire with experience operating metro systems in the country.
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/