Consorcio PPP Infraestructura Educativa 2

Infraestructura Educativa II - PPP Project Financing

Industry
Other/Education
Area of finance
Project & Infrastructure Finance
Country
Uruguay

Deal Overview

PPP Educativa 2 is the second of a three-package educational infrastructure program that the Uruguayan government has been implementing through the National Public Education Administration (ANEP) under 22-year public-private partnership contracts. The project consisted of the  design,...

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PPP Educativa 2 is the second of a three-package educational infrastructure program that the Uruguayan government has been implementing through the National Public Education Administration (ANEP) under 22-year public-private partnership contracts. 

The project consisted of the  design, finance, build, operate, maintain, and equip 23 public schools, 9 public technology centres, and 10 public sports centres throughout the country. The project’s most significant development impacts are: 

(i) enhanced availability of public education (early childhood, primary, and technical education) and public sports education; 

(ii) promotion of full-time education primarily in disadvantaged socio-educational contexts; 

(iii) improved conditions of buildings by replacing inadequate school infrastructure, e.g. early childhood, primary, and special education; 

(iv) improved conditions of facilities for sports activities at schools near sports centres;

(v) The IDB Group provided resources in US$ at terms and conditions currently unavailable in the local commercial market. Moreover,  IDB Invest played an important role in supporting the bankability of the contractual framework to be applied to the Project and leading such discussions, which resulted in the improvement of certain key sections of the PPP Contract relevant to the financing of the Project, especially since this was the first time that a dollar financing was provided for Social PPP in the country so many clauses were discussed and adapted considering the dollar financing tranche. 

In addition, for IDB Invest, this was (i) the first time ever that participated in a Education PPP in the country and in their history (in their 26 countries),

 (ii) for the first time under local law for an infrastructure PPP in Uruguay. 

The Project was signed in February'20 and IDB Invest first disbursement occured in March'20 when the COV-19 already hit Uruguay and the region.

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Deal Volume
$ 71.1m
Financial Close
18 February 2020
Sources
Submitted by participant(s)

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Tranches


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Projects

PPP Education Infrastructure Facilities Uruguay

Greenfield
Education
Uruguay
$ 96m