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MeneameThe World Bank (WB) has approved a US$150mn loan to support Argentina's metropolitan areas urban transport project, the bank said in a release.
The project aims to improve the quality and sustainability of urban transport systems by bettering decision-making frameworks and by giving priority to public transport development.
The demand for subways in Argentina has increased 19% in the last few years, while demand for suburban trains has grown 17%, the release said.
The US$150mn loan is the first stage of WB support for the program. It has a 30-year term with five years of grace. Resources will be available from 2010-16.
PROJECT DETAILS
There are five components to the project, the first being the creation of a metropolitan transport agency for the Buenos Aires metropolitan area. This aims to strengthen transport planning and management.
A second component involves medium-sized metropolitan areas and addresses issues such as underinvestment in road maintenance and infrastructure; increased traffic congestion; and the deteriorating quality of public transport services.
Access to public transport and integration in Buenos Aires is the third component, which aims to improve bus-train integration and accessibility to stations, among other issues.
The fourth component aims to improve sector training and involves designing a postgraduate program in urban transport, while the fifth is the project management.
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