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Saturday, July 2, 2022

IDB Invest offers funding for Uruguay’s Central Railroad Line project

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IDB Make investments, a member of the IDB Group, has accepted a $250m financing package deal for the Central Railroad Line challenge in Uruguay.

The package deal, comprising a $250m senior facility by means of a fixed-rate B-bond, will assist improve connectivity and integration inside Uruguay with its capital Montevideo.

Proceeds from the package deal will likely be used for refinancing present debt, in addition to strengthening the general financing phrases of the challenge.

Through this B-bond, IDB Make investments helps meet Uruguay’s goal of attracting direct international funding, directing new sources to drive infrastructure initiatives and opening up funding out there from worldwide institutional buyers.

The B-bond is claimed to be the biggest that IDB Make investments has structured to date. 

IDB Make investments chief funding supervisor Gema Sacristan stated: “Investing in large-scale, sustainable infrastructure initiatives can have a transformative impression for the way forward for our area.

“At IDB Make investments, we proceed to innovate to mobilise financing and entice new buyers to Latin America and the Caribbean.”

In 2019, IDB Make investments additionally supplied a monetary package deal of round $536m, together with a $300m mortgage from IDB Make investments. The remainder of the quantity was mobilised from buyers in addition to industrial banks.

The challenge was carried out by means of a public-private participation (PPP) contract.

IDB Make investments acknowledged that the transfer is anticipated to help 4 United Nations sustainable improvement targets.

These targets embody respectable work and financial progress (SDG 8), business, innovation, and infrastructure (SDG 9), accountable manufacturing and consumption (SDG 12), and partnership for the targets (SDG 17).

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