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The development objectives of Matanza-Riachuelo (M-R) Basin Sustainable Development Project for Argentina are: (i) improving sewerage services in the M-R River Basin and other parts of the Province and City of Buenos Aires by expanding transport and treatment capacity; (ii) supporting a reduction of industrial discharges to the M-R River, through the provision of industrial conversion grants to small and medium enterprises; (iii) promoting improved decision-making for environmentally-sustainable land use and drainage planning, and piloting urban drainage and land use investments, in the M-R River Basin; and (iv) strengthening Autoridad de Cuenca Matanza Riachuelo's (ACUMAR) institutional framework for ongoing and sustainable clean-up of the M-R River Basin. This restructuring requires the following changes to the Project: (a) Extension of the loan Closing Date from March 31, 2017 to March 31, 2022, to allow for completion of all main activities and achievement of the project development objective; (b) increase from 80 percent to 100 percent of Bank financing for expenditure categories 1, 4, and 9 to allow for more agile implementation; (c) change of the description of Component 2 ? Part 2 (f) to incorporate the financing of the Asociacin de Curtidores de Buenos Aires (ACUBA) Tanneries Industrial Park (TIP) and specialized technical assistance for the supervision of the construction of the Industrial Wastewater Treatment Plant (IWWTP); and said industrial park; and, (d) reallocation of loan proceeds to increase the allocation of category 1 for 22.6 million US dollars from categories 3, 4, 5, and 9; and (e) revision of the Results Framework to reflect the new closing date for the end targets, and to adjust some indicators based on the government?s priorities.
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