CAF approves loan for construction and paving of important road stretch in Oruro

The Board of Directors of CAF—development bank of Latin America—approved a USD 80.93 million loan for the construction and paving of two La Joya-Chuquichambi and Huayllamarca-Totora road sections on Route 31 of the fundamental road network in the Plurinational State of Bolivia, department of Oruro, including building the La Joya and Crucero bridges.

The loan is set to fund works that are part of the Fundamental Road Network (RVF) in the Andean country, in addition to facilitating internal economic and social territorial integration, providing an alternative to improve Bolivia’s international connection with Chile’s port area.

“This project aims to boost productivity and promote national and regional integration with international linkage in the department of Oruro, by improving the existing road, contributing to better national road infrastructure and paved road coverage,” said CAF Executive President Sergio Díaz-Granados.

Construction of this route will benefit surrounding communities, mainly engaged in agriculture the breeding and industrialization of camelid livestock, such as the municipalities of Caracollo, Toledo, Huayllmarca, Totora and Curahuara de Caranga, with a combined population of some 48,500 inhabitants.

The length of the road stretches will total 61.8 km, including two bridges. This project is part of Bolivia’s Economic and Social Development Plan 2025, with its key goals of food and productive sovereignty. Thus, it is expected to benefit the commercial sector as well as local, national and international cargo transportation, with reduced cost and time in product transfer.