IBRD LOAN: US$70 million
TERMS: Grace Period = 4.5 year and Maturity = 14.5 years
PROJECT DESCRIPTION: The objective of this project is to reduce Argentina’s vulnerabilities to flooding, through a mix of physical, institutional and financial measures. Flooding is a major natural hazard in Argentina. This project will develop a risk management program for the provinces of Chaco, Corrientes, Misiones, Santa Fe and Entre Rios, which are located along the two main rivers, the Parana and Uruguay, constituting Argentina’s most vulnerable region to flooding. The program will improve the security of economic assets and people living in flood-prone areas, by constructing defense facilities to reduce future losses, by implementing a housing program for the benefit of the lowest-income population, and by strengthening national and provincial institutions and systems for dealing with future floods.