WASHINGTON, June 22, 2016 - The World Bank’s Board of Executive Directors today approved the following project:
Argentina – Flood Risk Management Support Project for the City of Buenos Aires
IBRD Loan: US$200 million equivalent
Terms: Maturity = 22 years, Grace = 7 years
Project ID: P145686
Project Description: The objective of the Project is to strengthen the City of Buenos Aires to efficiently manage flood risk and to improve the drainage systems in targeted basins in the city. The Project would finance prevention, mitigation, and response activities aimed at reducing recurrent flooding that negatively impacts local livelihoods, commuter’s mobility, the city budget, and the national economy.