Financial

US $1bn facility approved for new bridge in Argentina

The new bridge will comprise four lanes and feature a 772m cable-stayed span as well as 5.6km of viaducts

A US $1bn credit package has been approved by the Inter-American Development Bank (IDB) for a new bridge over the Paraná River in Argentina.

The plan is to construct a four-lane bridge 9km away, featuring a 772m cable-stayed span, 5.6km of viaducts, in addition to 28km of associated highway.

According to a report, the board approved a $700mn credit line, as well as a $345mn first loan to build a bridge between Chaco and Corrientes, as well as access roads. The $345mn loan will fund the initial construction phase, project supervision, and socio-environmental mitigation. It has a 25-year repayment term and a 5.5-year grace period.

The two provinces are currently connected by the two-lane General Manuel Belgrano Bridge between Resistencia and Corrientes, but this has become insufficient for traffic demand, as per a report.

The loan will also be matched with a $100mn local contribution, the report concluded.

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