THE government of Mendoza province in Argentina has secured a green loan worth Pesos 23bn ($US 16.9m) from Banco Santander Argentina to fund stages III and IV of the programme to extend the light rail network in the provincial capital, Mendoza.
The existing 17.6km line will be extended northwards by a 4.8km to El Plumerillo International Airport, with this extension expected to open later this year. The 15km southern extension to Luján de Cuyo is scheduled for completion in 2027.
The bilateral loan has a term of five years and a grace period of one year. It is backed by federal revenue-sharing guarantees allocated to Mendoza province.
Santander says that the loan meets the green loan standards of the Loan Market Association (LMA), intended to ensure that funding is provided in a transparent and traceable manner for projects with a positive environmental impact.
Funding the light rail extensions will enable public transport in Mendoza to be improved in a sustainable manner, it says, providing a cleaner and inclusive alternative to the private car.
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