Loan approved for Argentina road project

Serbia’s Ministry of Construction has plans to rebuild and upgrade some 1,000km of roads between 2014 and 2018. The work is expected to cost €300 million. Serbia’s Government is looking to the EU for the ratification of a previously discussed loan worth €300 million. This loan has been approved by the World Bank, the EBRD and the European Investment Bank (EIB). The money will be used to fund road rebuilding work, with one of the first projects to tackle being the improvement of the Zrenjanin-Zabalj route.

Argentina is receiving a loans from the Inter-American Development Bank (IADB) worth US$300 million for road improvements. The loan will be used to widen and improve roads across the country and is for 25 years with a grace period of 4.5 years. The Argentina Government will provide a further $200 million for road development projects. Planned projects include a new 120km dual carriageway as well as work to a 35.4km section of National Route 19 in Cordoba Province. Meanwhile around half of Salta Province

Financing in the shape of loans will help fund six PPP road projects in Argentina. Loans worth US$200 million and are being supplied by IDB Invest, a division of the Inter-American Development Bank (IADB). In all syndicated loans worth $900 million have been amassed from a number of banks and funding institutions to help pay for the projects. However the road projects are expected to cost in the order of $6 billion in all.