CAF grants USD 80 million for road improvements in Uruguay
The loan is aimed at improving 280 kilometers of secondary and tertiary roads that connect the productive areas of the country
CAF, Development Bank of Latin America, approved a loan for USD 80 million to Uruguay, to finance the rehabilitation and maintenance of 280 kilometers of the secondary and tertiary road network that connects the rural areas with the coast, which is used for the transportation of a significant part of the country's agricultural and livestock production.
The funds, granted to the Corporación Nacional para el Desarrollo (CND) (National Development Corporation), are aimed at reducing the logistic costs of transportation and travel times, as well as contributing to a maintenance program that helps preserve the road infrastructure. In addition, investments will contribute to the increase of productivity and economic diversification in the medium and long-term while at the same time promoting the generation of employment associated to construction activities and the productive linkages of the goods and services demanded.
Enrique Garcia, Executive President of CAF, stated, "This loan reaffirms our permanent support to the modernization of Uruguay's infrastructure and the consolidation of projects that help energize economic activity in the country. In addition, it represents a significant advance to efficiently connect all citizens and achieve inclusive growth".
The works, which will require a total investment of USD million, will be executed by the Corporación Vial del Uruguay (CVU) (Roadway Corporation of Uruguay), will include the rehabilitation of paved roads and paving dirt roads with a superficial treatment, and improve roads with asphalt pavement, as well as the reconstruction of bridges and works linked to road security.
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