PMFORUM Breaking News
Breaking News from around the world of project Management
Wednesday, July 01, 2009
World Bank commits $3 Billion to Argentina Programs and Projects
Reported by Ana Maria Rodriguez in
Rosario
To help weather the global economic crisis and protect the most vulnerable from its impacts, the World Bank has announced a commitment of more than US$3 billion to Argentina over the next three years in a new Country Partnership Strategy (CPS). The new alliance, approved by the Bank board on June 9 will provide US$3.3 billion in development assistance between 2010 and 2012.
The multilateral agreement will also support with US$840 million cleanup program for the Matanza-Riachuelo river basin, the most polluted urban river system in Argentina, and provide US$450 million to shore up funding for the country's social safety net system, with additional projects in these areas to follow.
"The new strategy will help Argentina weather the international
crisis, and also make progress in some key, medium-term development issues, in
particular reducing poverty and also helping in the infrastructure area," said
Pedro Alba (pictured at right), the World Bank representative
in Argentina. Alba added that at least 30 percent of the funds will be devoted
to social protection given the impact of the financial crisis in the region.
Infrastructure growth and governance will be the other focus of the CPS, with the Bank devoting funds to medium-term issues such as logistics and the environment. Governance projects will focus on public expenditure management in the provincial governments.
The Matanza-Riachuelo Basin Sustainable Development Project is
the largest sanitation project the World Bank has financed in Latin America, and
will clean up a polluted river basin within the city of Buenos Aires. Given the
size of and the amount of pollution in the Matanza-Riachuelo basin, the project
could run for nearly 20 years.
Project leader Franz Drees-Gross said the Bank is supporting the project in four areas: building core infrastructure to remove sanitary discharge; reducing industrial discharges that now go directly into the river; creating an integrated management structure for the basin; and strengthening the agency that overlooks the basin.
"This program addresses social issues by reinstituting equity and social justice, while focusing on economic development, keeping jobs secure and cleaning the environment as mandated by the Constitution," said Homero Bibiloni, Argentina's secretary for the environment and sustainable development.
"Argentina's Future is Very Bright"
Source: World Bank News Release, June 11, 2009
To help weather the global economic crisis and protect the most vulnerable from its impacts, the World Bank has announced a commitment of more than US$3 billion to Argentina over the next three years in a new Country Partnership Strategy (CPS). The new alliance, approved by the Bank board on June 9 will provide US$3.3 billion in development assistance between 2010 and 2012.
The multilateral agreement will also support with US$840 million cleanup program for the Matanza-Riachuelo river basin, the most polluted urban river system in Argentina, and provide US$450 million to shore up funding for the country's social safety net system, with additional projects in these areas to follow.
Infrastructure growth and governance will be the other focus of the CPS, with the Bank devoting funds to medium-term issues such as logistics and the environment. Governance projects will focus on public expenditure management in the provincial governments.
Project leader Franz Drees-Gross said the Bank is supporting the project in four areas: building core infrastructure to remove sanitary discharge; reducing industrial discharges that now go directly into the river; creating an integrated management structure for the basin; and strengthening the agency that overlooks the basin.
"This program addresses social issues by reinstituting equity and social justice, while focusing on economic development, keeping jobs secure and cleaning the environment as mandated by the Constitution," said Homero Bibiloni, Argentina's secretary for the environment and sustainable development.
"Argentina's Future is Very Bright"
Source: World Bank News Release, June 11, 2009