City of BA

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The proposed IFC corporate loan will support Buenos Aires’ 2016 – 2017 investment program of around US$800million in critical transport infrastructure. The IFC financing package will consist of a US$75 million A-Loan and a US$75 million B-Loan. 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 use of proceeds 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, extending from Retiro Station to Avenida Independencia; 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.