Argentina receives $150 million
from World Bank
(Washington DC, October 20, 2009) The Board of Directors of the World Bank today approved a loan to Argentina in support of the Metropolitan Areas Urban Transport Project (PTUMA) to "improve the quality and sustainability of urban transport systems in Argentine Metropolitan Areas."
According to Pedro Alba, (World Bank Country Director for Argentina, Chile, Paraguay and Uruguay) --“The project promotes the development of an efficient urban transport system that supports economic growth by allowing lower income population segments to access urban services, employment opportunities, and commercial facilities”
The World Bank took into consideration the increase in demand for public transportation in Argentina over recent years. Public transit usage of the Metro has grown by 19% and in suburban railways by 17%. The WB also noted that significant infrastructure investments must be carried out to adequately meet increasing demand.
The 150 million dollar (American equivalent) loan has been allocated to Argentina as an adequate amount to help further the development of such infrastructure.
No comments:
Post a Comment