CAF and Bolivia sign a loaj contract for USD 88 million for Confital-Bombeo divided highway
The highway will benefit agricultural areas and contribute to regional integration with neighboring countries through the east-west highway corridor
Emilio Uquillas, Director Representative of CAF, Development Bank of Latin America in Bolivia, and the Minister of Development Planning, René Orellana, signed the loan contract for USD 88 million for the construction and pavement of the divided highway of the Confital-Bombeo tranch, part of the Caracollo-Colomi highway which joins the departments of Oruro and Cochabamba.
The project is part of the Red Vial Fundamental (Essential Road Network) of the east-west corridor, which is one of the axis of the most important regional, political, and economic integration, contributing to the country's integration with Brazil and Chile. The implementation of the works will be in charge of the Administradora Boliviana de Carreteras (ABC) (Bolivian Road Administration), and will benefit the Department of Cochabamba, specifically the Municipality of Tapacarí, which is located in an agricultural area.
Uquillas pointed out, "This is another way in which CAF supports the development of enablers of the productive transformation that Bolivia requires to ensure sustained growth that leads to higher employment levels and wellbeing for the population. Among the main benefits of the initiative he noted the increase of the economic potential of the road corridor, both for its area of influence and for the region, the reduction of travelling times for road users, as well as of the vehicular operation costs".
As in all projects where CAF participates with financing, a safety audit is required in order to reduce road accidents. A temporary but important effect, is the generation of direct and indirect employment during the construction, operation, and maintenance of the tranche.
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