Loan for road program to upgrade road communications in Argentina and favor regional integration
- CAF approves US$168 million for Road Phase II: National Route 40 Program.
- Paving and upgrading works will be carried out on over 200 km of the route to improve border crossings with Chile and promote regional integration.
"It is – CAF President & CEO Enrique Garc�a said - a program to improve the country's longest highway near the border with Chile benefiting not only the connectivity of a large part of Argentine territory, but also serving regional integration and strengthening links with the neighboring country."
He added that with the new approval, more than US$640 million has been granted by CAF for road development in Argentina."The funds approved for this sector have been used for construction and upgrading of over one thousand kilometers of roads, with a total investment of over one billion dollars," García said.
The Road Development Phase II Program, implemented by the national government at a total cost of US$240 million, is also a commitment to stimulating sectors with high growth in recent years such as tourism and agriculture, mining and industry. "The Program – García concluded – promotes the economic and social integration of the regions and the most backward social sectors in the country."
National Route 40, running parallel to the Andes Cordillera, crosses Argentina's 11 provinces from south to north. It is the longest highway in the country and connects a number of tourism regions and some of the country’s most important attractions.
The CAF funds will be allocated to road works and technical and environmental supervision of the Mendoza section (161 kilometers between Malargue and Barrancas town) and the Chubut section (41 kilometers from the town of Río Mayo to the border with Santa Cruz province), as well as other sections under analysis.
The loan will also finance pre-investment studies for projects on other sections of National Route No. 40 pending action, and a strategic environmental and social assessment study for the entire corridor, along with institutional strengthening of the National Roads Department.
CAF's more recent content
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
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.