IDB Invest, a member of the IDB Group, provided a US$ 25 million loan for the purpose of the building, operating, maintaining and equipping 23 schools, 9 technology centers, and 10 sports centers, as part of the Uruguayan government's strategy to help upgrade the country's educational infrastructure.
The implementation will be carried out through a public-private participation (PPP) contract between the National Administration of Public Education of Uruguay (ANEP) and the PPP Infrastructure Education II S.A. Consortium, a special-purpose company created to carry out the project. The total cost of the operation is completed with the participation of other co-financing banks. The first disbursement was made on March 26, 2020.
The project constitutes the second package, within a program of four projects under the PPP Educativa modality, and aims to increase both the general educational offer (initial, primary and technical levels) and the public educational-sports offer in Uruguay. The objectives include the promotion of full-time education, especially in unfavorable socio-educational contexts, and the improvement of school conditions. The practice of sports in schools near sports centers will benefit from these new infrastructures.
The project also provides a greater offer of technical and polytechnic schools, bringing these options closer to more population and increasing the educational link with the needs of the most important industries in the interior of Uruguay. In addition, some of the centers to be built will incorporate infrastructure that allows them to generate solar thermal energy to cover their hot water needs for kitchens, bathrooms and changing rooms.
The infrastructure projects financed will be carried out in 16 of the 19 Departments of the country: Montevideo, Canelones, Artigas, Rocha, Colonia, Rivera, San José, Maldonado, Durazno, Tacuarembó, Salto, Cerro Largo, Paysandú, Treinta y Tres y Black river.
The disbursement of this transaction comes at a time when financing for educational infrastructure becomes highly relevant, since these types of operations may experience credit restrictions due to the current COVID-19 crisis.
