Mitrani Caballero advised the International Finance Corporation (IFC), a member of the World Bank Group, on a sustainable financing of up to US$250 million granted to the Province of Córdoba. This is the first transaction of this kind carried out by the corporation with a subnational government in Latin America and the Caribbean.
The funds will be used to finance the first phase of the Río Cuarto ring road project, which includes the construction of dual carriageways, interchanges, crossings, a 320-meter bridge over the river, reconfigured roundabouts, and paved service roads. High-efficiency LED lighting will also be installed to reduce public energy consumption.
The project aims to improve road connectivity and safety, reduce travel times, lower greenhouse gas emissions, and optimize road services. In this way, it will strengthen regional connectivity, stimulate economic activity, and generate employment opportunities.
In addition, the project framework incorporates a strong and innovative gender-related key performance indicator, as it supports the expansion of the Province’s Punto Mujer network across different municipalities. These are spaces that provide support, assistance, and guidance in situations of violence.
“Infrastructure, job creation, sustainability, and gender inclusion in a single transaction. This is the kind of deal that moves the region forward,” said Javier Errecondo. The advisory team was led by Javier Errecondo, head of the Banking, Finance and Capital Markets practices. Senior associates Leonel Palomares and Sofía Bonel Tozzi also participated.
The financing package granted to the Province of Córdoba includes a direct commitment of US$50 million from IFC and an additional US$200 million from banks and private funds, including Banco Santander, Deutsche Bank, Bank of China, and ILX Fund.
