USD 400 millones para mejorar la infraestructura vial y la movilidad urbana en la ciudad de Buenos Aires
The loan approved by CAF will help improve urban mobility in the city of Buenos Aires, provide a more efficient integration of its transportation network, and optimize the physical connection between the city's center and Puerto Madero
CAF, Development Bank of Latin America, granted a loan for USD 400 million to the Republic of Argentina to finance the project Paseo del Bajo, which plans to build a 7.0 Km. road corridor in the city of Buenos Aires. The objective is to improve urban mobility and provide an efficient integration of the commercial transportation, especially in the area neighboring the city's port and the Retiro station, with the north and south corridors of the great Buenos Aires.
The project, which will be executed by the Nation's Ministry of Transportation and the Government of the Autonomous City of Buenos Aires, includes the creation of a central roadway at a different level, to separate heavy vehicles from the rest, thus contributing to reduce the logistic costs associated to foreign trade, emission of contaminating gasses, and generation of noise. In addition, the project intends to improve roadway security and generate a greater urban integration of the city, based on the development of green, open, and accessible infrastructure.
Enrique García, CAF's Executive President, expressed "With this agreement we intend to contribute to the Government's efforts to achieve an efficient urban connectivity that improves the quality of life of all its citizens while at the same time, promotes an increase of the productivity and competitiveness of Buenos Aires".
The financing of the project contributes to CAF's strategy in Argentina, which is based on three main lines of action: improve the energy, transportation, and logistic infrastructure; productive transformation; and social development.
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