CAF Approves USD222 million for Paraguay Road and Highway Projects for Integration with Its Neighboring Countries
CAF resources will support Paraguay's Highway Integration, Refurbishment and Rebuilding Program spearheaded by the Paraguayan government.
CAF lending will help refurbish, improve and pave 398 kilometers of roads in three Paraguayan departments bordering Argentina, Bolivia and Brazil.
(Lima, Dec. 3, 2013).-"Latin American countries need to develop a comprehensive development plan that prioritizes investments that improve infrastructure, a goal CAF is determined to help its shareholder nations achieve," said CAF Executive President Enrique García upon announcing the approval of USD222 million to the Republic of Paraguay to finance the country's Highway Integration, Refurbishment and Rebuilding Program.
The program will help integrate different regions within Paraguay as well as improve links with Paraguay and its neighbors, which will enhance the competitiveness of local economies via consistent upgrades to the country's roads and highways.
Projects include refurbishments, improvements and paving work along 398 kilometers of national and local roads and highways in three departments bordering Argentina, Bolivia and Brazil.
The program aims to improve the flow of traffic on interstate highways and local roads in three Paraguay departments to facilitate the flow of goods to and from productive sectors of the local, national and regional Latin American economies.
The program's total investment figure comes to approximately USD285 million, 78 percent of which will be covered by CAF financing and the remaining 22 percent financed locally. The program will also invest in road and highway infrastructure by strengthening civil planning and infrastructure maintenance in Paraguay.
Roadways benefitting from the investments include National Route Nº 9, segments of the Mariscal Estigarribia - La Patria highway, the La Patria - Infante Rivarola highway; the Kilometer 40-Alberdi highway and access to the city of Villa Oliva as well as a Curuguaty-Villa Ygatimí-Ypehu route.
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