This financing will be used to strengthen the infrastructure of the port, improving its competitiveness and positioning at a regional and international level.

The Central American Bank for Economic Integration (CABEI) and the Inter-American Development Bank (IADB) offered $240,000,000 in financing for the project entitled“Expansion and Improvement of Port Infrastructure at Puerto Cortes”. This financing is a joint effort by both development organizations, each providing US$ 120 million to the project

The project consists of improving Puerto Cortés so that it may improve its international port standards. This will be achieved thru the following: constructing and equipping a special pier for the movement of containers, constructing and equipping a special pier for the movement of organic bulks, dredging the ocean floor in order to facilitate large vessel access and to form the sea land reclamation filling, and better equipping current port facilities.

Expansion of the port’s infrastructure works, combined with advanced equipping, will allow Puerto Cortés to offer port services at globally competitive levels. This is important considering increased trade flows that will occur as a result of DR-CAFTA, as well as the necessity of trade in terms of sustaining Central American economic growth. Improving Puerto Cortés will also bolster the movement towards establishing a “dry canal” in Honduras.

Aside from improving the competitiveness and positioning of Puerto Cortes, the project will also create many permanent new jobs; labor necessary for managing the new piers.

Honduras, due to its geographic position which gives it access to both the Atlantic and Pacific oceans, is in a privileged situation to compete in the arena of maritime transport due to the development of port activities and due to its installations. Puerto Cortés has gained international recognition as one of the world’s premier ports; first in Central America, fourth in Latin America, and eight internationally.

With this project, CABEI reaffirms its commitment to helping Central America competitively insert itself in the global economy.

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