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IDB grants Uruguay $ 75 million loan for infrastructure

The Inter-American Development Bank (IDB) today signed a $ 75 million loan in Montevideo that will allow Uruguay to improve the fiscal management of departmental governments, To finance infrastructure works and strengthen the services provided to the population.

Montevideo, July 6 (EFE) .- The Inter-American Development Bank (IDB) today signed a $ 75 million loan in Montevideo that will allow Uruguay to improve the fiscal management of The departmental governments, in order to finance infrastructure works and strengthen the services provided to the population.

The signing of the contract took place in the Intendance of Montevideo and counted with the heading of the Minister of Economy, Danilo Astori; Of Uruguay, and IDB representative in Uruguay, Morgan Doyle.

Financial support is part of a credit line of $ 300 million approved in 2016, which is part of the Subproject Development and Management Program (PDGS II).

The loan, which adds up to a local counterpart of 15 million dollars, will allow PDGS II to be continued until the year 2020.

The program aims to strengthen the financial autonomy of departmental intendencies, in order to improve the management of infrastructure investment and extend services

Specifically, investments related to the urban and territorial development of the departments will be financed, and work will be carried out on the improvement and maintenance of The rural roads.

Astori noted that financial support will allow "reconciling the fiscal trajectory of departmental governments and investment," because "fiscal management is The anchor of all local politics. "

The IDB representative said that the loan aims to" strengthen local public finances and the capacity of Management "of the departmental governments, so that" they can make more and better investments "and thus" improve the quality of life of the population ".

" The main beneficiaries of this Project are the citizens, "he said.

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