Description

The objective of the Urban Transport Transformation Project (UTTP) for Mexico is to contribute to the transformation of urban transport in Mexican cities toward a lower carbon growth path. The change to the project loan agreements seeks to amend the procurement section of the legal agreements to reflect entirely the Board approved project appraisal document (PAD). As project implementation advanced, it became clear that in the procurement annex of the Board approved PAD, which allowed the acquisition of buses by private investors, was not fully captured by the original legal agreements. An amendment is necessary so that the loans can finance the acquisition of buses by private investors, as originally envisioned, using private sector practices acceptable to the bank.