Support from Japanese Fund

A US$ 1,340,000 grant will help Guatemala City complete the master plan for a project to revitalize a central area with a rich urban heritage, the Inter-American Development Bank announced 2008-03-20.

The area could be recovered to take advantage of its strategic location, existing infrastructure, historical buildings and public spaces. The project could also help slow the city’s expansion.

Using resources from the Japanese Fund for Consultancy Services administered by the IDB, the municipal government will strengthen the master plan by conducting additional studies on urban and economic development and social and environmental sustainability.

Under a public-private partnership model, the project will develop a strategy to encourage investments that will accelerate the recovery of the area. The grant will also help Guatemala City strengthen Urbanistica, the municipal agency that prepared the master plan.