CAF to Fund Education Infrastructure in Uruguay
CAF—development bank of Latin America—and the CAF AM II Debt Fund will finance educational infrastructure in 15 of the Uruguay’s 19 departments
The Private Public Partnership (PPP) Project in Educational Infrastructure 2 will finance the design, construction and maintenance of 42 educational and sports centers (23 full-time schools, 9 technology hubs and 10 sports centers) across 15 of Uruguay’s 19 departments. The Public Authority managing this project is the National Public Education Administration (“ANEP”).
The project was awarded in May 2018 to Infraestructura Educativa II S.A., under a 22-year PPP contract, with a maximum period to complete the construction of all facilities of 36 months.
The total cost of the project is estimated at some USD 97 million, which will be partially financed by CAF (USD 4.2 million) and the CAF AM II Debt Fund, managed by CAF AM Administradora de Activos Uruguay S.A. (USD 42 Million). The funds provided by CAF and CAF AM will be in Indexed Units.
“High-quality educational infrastructure is pivotal for Uruguay to improve its educational levels and to showcase itself in the medium term as a modern and world-class economy,” said Francois Borit, CAF Representative in Uruguay.
This initiative aims to provide education to a total of 4,500 children full time, in 23 schools. The objective on the 9 technological poles aims to offer education, research and services closely linked to local productive development in technical and technological areas, with a capacity of 400 students per center. Regarding the 10 sports centers, each will have an area of 2,129 m2, and will be equipped with locker rooms, pitches, gym, and restrooms. They are expected to be used by elementary and high schools students in their area of influence, and other users outside school hours.
Educational Infrastructure 2 is the second PPP funded by CAF after Educational Infrastructure 1, demonstrating its continued support to the development of education in Uruguay.
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