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PRESS RELEASE April 30, 2021

Argentina Will Receive US$347 Million from the World Bank to Improve Infrastructure of the Mitre Railway Line

WASHINGTON D.C., May 3, 2021 – The World Bank Board of Directors approved a US$ 347 million loan to improve the service and infrastructure of the Miter railway line, which transports over seven million passengers annually.

"This is a very important step forward in the path set by President Alberto Fernández, and already started by Mario Meoni, to modernize our passenger railroad transportation. The train is one of the most used means of transportation by argentine men and women, and thanks to this financing we are going to be able to initiate an historic transformation in the Mitre line that will improve the quality of life of millions of people," said Alexis Guerrera, Argentina’s Transport Minister.

The Buenos Aires - Mitre Passenger Railway Line Modernization Project seeks to improve urban transport to benefit low-income users, women and people with disabilities who live in the Buenos Aires Metropolitan Area and who regularly use public transport to travel to work or for other activities.

“Today more than ever it is necessary to modernize transport systems so that they are safe, efficient and sustainable for all people who travel to work, study or use the train as a means of transportation,” said Jordan Schwartz, World Bank director for Argentina, Paraguay and Uruguay.

Specifically, the project will finance the expansion and renovation of the rail yard of the Retiro station; the construction of two new stations (Facultad de Derecho, which will connect with the subway station, and an elevated station in Bancalari to link different feeder lines); the remodeling of 16 stations; improvements in the electrical system; and, the renewal of the Tigre feeder line, among other works.

To help combat the COVID-19 pandemic, the project will implement measures to improve ventilation in trains and track the levels of car occupancy in real time to encourage social distancing.

Additionally, the project will promote low-carbon transport by discouraging the use of private vehicles and favoring the integration of different modes of sustainable transport, such as bicycles and the Metrobus. It will also adopt standards for the design of climate-resilient infrastructure and will incorporate disaster risk management systems.

Following the principle of universal accessibility, mobility strategies that take into account the needs of people with disabilities will be implemented, together with strategies for safe transport of women and LGBTI groups. The project will also promote women’s increased presence in managerial positions of railway agencies.

The financing for the Buenos Aires - Mitre Passenger Railway Line Modernization Project is a variable margin loan, with a 32-year maturity period and a seven-year grace period.

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