Argentina

The development objective of the Second Phase of the Adaptable Program Loan (APL2) for the Buenos Aires Infrastructure Sustainable Investment Development Project for... Show More + Argentina is to improve the social and environmental welfare of approximately five million people living in the borrower's territory through the improved provision of transport, water supply and sanitation, and drainage services. The restructuring, jointly with the restructuring in parallel for the APL one (and Additional Financing), will update the program funding structure and its activities to the current context, thus providing the grounds for an adequate and timely program implementation, aiming at full achievement of the project development objectives of both APLs (first and second). The changes described in this project paper includes: 1) reducing the scope of the civil work components to reflect cost increases; 2) revising the target values of project indicators to account for the revised project scope; and 3) reallocating project costs among components and loan proceeds among categories accordingly. Show Less -

The Argentina Global Environmental Facility (GEF) Sustainable and Transport and Air Quality (STAQ) Project follows the higher level objectives of the Regional Program,... Show More + and have a common focus in assisting participant cities in: (i) towards reducing greenhouse gases (GHG) emissions by increasing use of less energy intensive transport modes in cities; and (ii) inducing policy changes in favor of sustainable transport projects. The level two restructuring of the Project seeks: (i) a one-year extension of the closing date in order to match the implementation window of partner projects - regional GEF STAQ, Brazil GEF STAQ, and Mexico GEF STAQ as well as to complete certain activities under the project; and (ii) an adjustment to the project's results framework. Both changes will have no impact in the project's development objectives, activities and implementation arrangements. The Argentina STAQ project (US$3.987 million) was prepared based on local governments' submissions in 2005. Because of a two-year effectiveness delay, the original assumptions regarding the timing of GEF-financed and of co-financed activities proved unrealistic. In addition, the time required for project impacts to materialize is also longer than originally anticipated because such impacts depend in part on complementary investments that will be completed only several years after the Grant is closed. Consequently, planned outcomes have to be changed. Show Less -

The objectives of the Second Adaptable Program Loan (APL) for the National Highway Asset Management Project for Argentina are: (a) to further preserve the Non-Concessioned... Show More + National Road Network, through the expansion of Performance-based Rehabilitation and Maintenance Contracts (CREMA) contracts for said network; and (b) to further strengthen National Highway Directorate (DNV's) road sector management capacity. The restructuring will trigger the following six safeguards policies: natural habitats, forests, pest management, physical cultural resources, indigenous peoples, and involuntary resettlement. Additionally, by approval of the Country Director, the restructuring: (i) supports a minor reallocation of the loan proceeds; and (ii) extends by 18 months the closing date of the project, from December 31, 2011 to June 30, 2013, to allow for completion of planned project activities. Show Less -

The overall purpose of the Province of Santa Fe Road Infrastructure Project for Argentina is to improve transport conditions along a strategic road corridor that links... Show More + the Province of Santa Fe with regional and international markets. The reallocation is necessary to be able to use the funds currently in the 'unallocated' category set forth in the loan agreement. This reallocation will not change the percentage of financing. The main component of this project, the upgrading of National Road 19, will receive the full amount of the unallocated funds. The construction works along National Road 19 are progressing according to the work plan set forth at the time of the bidding and no cost overruns have been observed. The total costs of the upgrading works will reach US$175 million and consequently the reallocation will allow to approximate the percentage of financing (the Province of Santa Fe will provide additional resources if necessary as counterpart funds). The upgraded Road 19, with the exception of 2km in the City of Santo Tome will be completed in June 2011, with the remaining works expected to be completed by February, 2012. Closing date of this Project is June 30, 2012. Show Less -

This project paper seeks the approval of the Executive Directors to provide an additional loan to the province of Buenos Aires (the borrower) for the first phase of... Show More + the Adaptable Program Loan (APL-1) for the Buenos Aires Infrastructure Sustainable Investment Development Project. The additional loan will complement the current US$200 million loan and finance the costs associated with: (i) the financing gap caused by unforeseen cost increases which have substantially affected the scope of the envisioned civil works; and (ii) the scaling up of the project to include additional works aimed at deepening the project's impact while supporting the original objectives. In addition to the additional financing (AF), this paper seeks approval for a level-one restructuring to trigger the involuntary resettlement safeguard policy (OP/BP 4.12) as a means of precaution in the event that a case of resettlement arises during implementation. Furthermore, this paper includes: (i) a revision of the outcome indicators to account for the changing fiscal reality in the province and to more accurately monitor progress towards achieving the project objectives and to trigger the Involuntary Resettlement safeguard policy; and (ii) the extension the closing date for the Original Project to December 31, 2013, three years after the current closing date to implement the investments, and the project completion date to June 30, 2013. Show Less -

This Project Paper seeks the approval of the Executive Directors to provide an Additional Financing to the Argentine Republic to be used for the Buenos Aires Urban Transport... Show More + Project. The proposed additional loan would finance the costs associated with: (i) covering a financing gap derived from the reallocation of loan resources to respond to Argentina's social emergency in 2002, and to cover unanticipated higher costs for civil works; (ii) financing implementation of modified project activities as part of a partial project restructuring; and (iii) financing the implementation of additional activities to scale up the project's impact and development effectiveness. In addition to the current project's objectives, a fifth development objective has been included: to help in the development of integrated urban transport strategies in Argentina's largest Metropolitan areas, in order to expand the development impact of the project to other cities in Argentina. Show Less -