Peru receives approvals of $172 million for development of transport sector
With an operation for $172 million, the Andean Development Corporation (CAF) approved at its CXIV Board Meeting, finance for the Transport Sector Development Program, which the Peruvian government is executing through the Ministries of Economy and Finance, and Transport and Communications.
CAF Executive President Enrique García said the operation would help the national government to consolidate improvements to the National Road Network. "Giving priority to the maintenance, treatment and upgrading of road infrastructure and transport services in Peru will have a significant effect on the progress of the South American Regional Integration Initiative (IIRSA)."
During the meeting, the chair was taken by Raúl Diez Canseco, first vice president of the Republic and minister of Foreign Trade and Tourism.
The funds destined for the Transport Sector Development Program will be used for the strategic development of transport, in particular upgrading and conserving the national, departmental, rural and port road infrastructure, strengthening the Ministry and supporting sectoral reform.
The national road network comprises major routes and trunk hubs which link departmental capitals, main cities, productive areas, ports and borders, carrying approximately 90% of freight and 8% of passengers in interprovincial transport.
The investments relate to projects on a series of highways and bridges in the 2003-2005 period, including the Rioja-Tarapoto Highway and the rehabilitation of the Chiclayo-Chongoyape Highway.
With the execution of these projects, the government is promoting the participation of the private sector in the development and operation of infrastructure, and the provision of road, maritime and river transport services.
The operation has a maximum term of 12 1/2 years with a grace period of two-and-half years.
CAF's more recent content
![CAF, JICA and Sicredi join forces to support women and rural producer CAF, JICA and Sicredi join forces to support women and rural producer](/media/4669796/foto_sicredi_divulgação_310724.jpg)
CAF, JICA and Sicredi join forces to support women and rural producer
The amount represents the largest international facility ever undertaken by Sicredi, with the involvement of four internationally renowned entities: Banco Finantia, BNP Paribas, Eco.business Fund, and Sumitomo Mitsui Banking Corporation (SMBC). The funds raised can also be used in regions with a Human Development Index below the national average.![CAF-FAO: Digitization project for agribusiness with repository launch CAF-FAO: Digitization project for agribusiness with repository launch](/media/4669830/caf-fao.png)
CAF-FAO: Digitization project for agribusiness with repository launch
The Food and Agriculture Organization of the United Nations (FAO), CAF -development bank of Latin America and the Caribbean-, the Ministry of Agriculture, Land and Fisheries and the Tobago House of Assembly celebrated the successful completion of the “Digitization and Innovation for the Competitiveness and Sustainability of the Agribusiness Sector in Trinidad and Tobago” project. The closing ceremony, that took place on the 29th of July, marked a significant milestone in the country's efforts to modernize and enhance the agricultural sector.![CAF recognizes Panama's water potential in the face of climate change CAF recognizes Panama's water potential in the face of climate change](/media/4669780/2_cuencas_hidro_caf_.jpg)