Funding of road works to improve mobility in Canelones
The multilateral agency signed an agreement with the Ministry of Economy and Finance and the National Development Corporation to improve mobility in the Department of Canelones.
CAF-development bank of Latin America- signed a loan agreement with the Ministry of Economy and Finance and the National Development Corporation (CND) to improve mobility and enhance connectivity and logistics in Canelones.
The agreement will fund the Road Infrastructure Program for Mobility, which will cost $25 million – $20 million funded by CAF and $5 million by the national government. The CND will be responsible for implementing the program and using the funds through its trust entity Corporación Nacional Financiera Administradora de Fondos de Inversión S.A.
The agreement was signed by Minister of Economy Danilo Astori, CAF’s director in Uruguay, Germán Ríos, and the President and Vice-President of CND, Jorge Perazzo and Germán Benítez.
“Investment in infrastructure is crucial to ensure the long-term growth of countries, the sustainable development of communities and their inhabitants, and regional integration. Therefore, it is essential for CAF to support such projects, cutting down logistics costs and improving mobility in the Department of Canelones,” said Ríos.
The program involves the implementation of infrastructure projects in approximately 40 km of roads, distributed across different areas of Canelones. Besides sidewalk expansions and renovation of existing road surfaces, the project also includes construction and renovation of urban spaces, new sidewalks, access to establishments and homes, and lighting, among other improvements.
CAF's more recent content
![Paving and maintenance of rural roads to guarantee progress in Peru Paving and maintenance of rural roads to guarantee progress in Peru](/media/4669192/fotos-guia-de-caminos-ndp.jpg)
Paving and maintenance of rural roads to guarantee progress in Peru
CAF presented in Lima the Guide “Rural roads: A door to development and territorial connectivity”, in which it offers guidelines that help guarantee the population's equitable access to opportunities for personal and professional development.![CAF and MCDF support Jamaica’s vision for a global logistics hub CAF and MCDF support Jamaica’s vision for a global logistics hub](/media/4669170/microsoftteams-image-1.png)
CAF and MCDF support Jamaica’s vision for a global logistics hub
The Multilateral Cooperation Center for Development Finance (MCDF) approved total financing of USD 550,000 in support of CAF’s partnership with the Jamaica Special Economic Zone Authority (JSEZA) to implement the Jamaica Logistics Hub Initiative (LHI) and the development of the Caymanas Special Economic Zone (SEZ), which will contribute to positioning Jamaica as a global logistics hub and gateway that will interconnect the Americas to the world.![What's next for the Regional Brand? 5 Lessons from Chile What's next for the Regional Brand? 5 Lessons from Chile](/media/4669114/img_3092.jpg)