US$56 million loan granted for improvement of Rafael Mendoza Avilés Bridge , Ecuador

The Andean Development Corporation (CAF) and the Republic of Ecuador today signed an agreement for a US$56 million loan to finance the Rafael Mendoza Avilés Bridge project, one of the main land routes which connects the cities of Guayaquil and Quito with the south and west of the country.

The signatories of the agreement were the minister of Public Works and Communications of Ecuador, José Macchiavello, and the CAF executive president, Enrique García, who said the support that the multilateral institution grants for this type of project has integrationist and social components.

The readaptation and improvement of the Rafael Mendoza Avilés bridge will contribute to the decongestion of vehicle traffic between Guayaquil, La Puntilla and Durán. The bridge forms part of the South E-40 inter-oceanic corridor which links Salinas on the Pacific with the ports of Guayaquil, Morona and the free trade area on the Marañón River in Peru, and ends at the port of Belem do Para in Brazil, integrating the tourist, commercial, agricultural, industrial and mining regions of the three nations.

Because of its characteristics, the bridge carries heavy traffic which causes a series of problems, including time lost from congestion and accident damage to vehicles. These costs should be reduced to a minimum with the readaptation and extension of the highway, which is the only direct link in the Guayaquil-La Puntilla-Durán corridor.

After completion, the project is expected to generate economic benefits from savings in travel time, reduced congestion, savings in costs caused by traffic accidents, reduction in the fuel costs and operating costs of public transport, and an increase in the level of access to and from the City of Guayaquil.

With regard to the environment, the project has been carefully evaluated to guarantee that its execution and operation meet the highest standards required for protecting the regional ecosystem.