Uruguay receives funding for Road Circuit No. 7
Road Circuit No. 7 is a 32.6-km toll-free highway located in the department of San José, in the south of the country.
As part of its continuous efforts to support the development of the countries of the region, CAF—development bank of Latin America—and its subsidiary CAF-AM Administradora de Activos Uruguay S.A., are funding one of the most important road projects planned for the coming years in Uruguay as presented by national authorities.
With a USD 90 million investment, works began on Road Circuit No. 7, which includes the design, construction, operation and financing of road infrastructure on National Route No. 3, between Route 1 and Route 11, and the San José de Mayo bypass. National Route No. 3 is one of the most important roads in the country, joining Montevideo with the coast.
Road Circuit No. 7 is a 32.6-km toll-free highway located in the department of San José, in the south of the country. The works consist mainly of the duplication of 24.5 km of roadway and the construction of an 8.1-km bypass in the city of San José de Mayo. Road Circuit No. 7 is part of Uruguay’s Public-Private Partnership Program (“PPP”) under Law No. 18.786.
“One of the main goals we pursue at CAF is to drive the sustainability of economic growth in places where we operate, and Uruguay is a clear example of this. Through this funding, we seek to enhance the nation’s road connectivity, fostering productive development at the local and regional levels,” said François Borit, CAF representative in Uruguay.
“It is the beginning of a magnificent and necessary project; it is a priority,” said Minister of Transport and Public Works Luis Alberto Heber during the groundbreaking ceremony. Heber noted that cargo transport has increased in the country and that has prompted authorities to prioritize high-quality projects through PPPs.
The revamping of road infrastructure in Uruguay is helping create almost 200 direct jobs and more than 500 indirect jobs, and has a positive impact on local labor in areas near the project.
This funding adds to a total of USD 391 million that CAF—development bank of Latin America—and its subsidiary CAF-AM Administradora de Activos Uruguay S.A., have approved to support road circuits 0, 1, 2, 3 and 7, for a combined intervention on about 948 km of road infrastructure in the country.
CAF's more recent content
CAF, ECLAC, IDB and PAHO Promote Sustainable Development in the G20
The Regional Organizations of the Americas congratulate Brazil on its successful G20 Presidency, highlighting its leadership on key issues such as poverty, governance, and climate change. They also reaffirm their commitment to actions that promote equity and development in the region.
Urgent Call for Action to Safeguard Caribbean SIDS at CAF Symposium
As the global community grapples with the escalating climate crisis, Caribbean Small Island Developing States (SIDS) are running out of time to secure critical investments and support needed to strengthen their economies and protect vulnerable communities from the intensifying impacts of climate change. With the window to take decisive action rapidly shrinking, CAF - Development Bank of Latin America and the Caribbean, in partnership with the Commonwealth Secretariat and the Antigua and Barbuda High Commission, brought together key stakeholders for a symposium in London to address the critical vulnerabilities Caribbean SIDS face.