CAF to Finance Yapacaní-Ichilo Highway Expansion
Highway expansion project linking the Santa Cruz and Cochabamba districts will cost USD105 million, 70 percent of which will be funded by the multilateral financial institution.
(La Paz, Sept. 17, 2013).Aiming to strengthen the productive, commercial and tourist sectors of the Cochabamba and Santa Cruz districts of Bolivia, CAF-development bank of Latin America- has approved USD73.5 million in financing for the construction and paving of the Yapacaní-Ichilo highway, which forms part of the International East-West Bi-Oceanic Corridor.
According to CAF Executive President Enrique García, the project, which forms part of the double-lane highway connecting Santa Cruz with Cochabamba, will allow for more efficient flow of cargo from key Bolivian agricultural zones to new markets.
" This is an important project that will provide permanent and safe access to both cities and the Bolivian valley, reducing travel times as well as logistical and transportation costs while making the road safer," said García, adding that "the route will join an international integration highway system that will greatly benefit Bolivia and the region."
Project Details
The 58.8-kilometer road forms part of the Montero-Crystal Mayu highway system, a key component of the Bolivian transportation network located in the Ichilo province. Municipalities benefiting from the project will include Yapacani, el Choré, El Palmar, San Germán, Nuevo Horizonte and Puerto Avaroa.
The project's total cost will come to USD105 million, of which 70 percent (USD73.5 million) will be financed by CAF, while the remaining 30 percent will be financed locally.
The project aims to double the capacity of existing routes by adding new lanes in each direction to open the flow of traffic while maintaining the alignment of the existing road, save a bypass that will avoid the Yapacani village.
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