CABEI approves US$1 million in cooperation to Costa Rica to improve conditions in the Caldera Port before the arrival of the ferry from El Salvador
The funds will finance several interventions in the Caldera Port so that the ferry between the two countries can be activated soon.
San José, August 22th, 2023. - The expected activation of the ferry between Costa Rica and El Salvador was recently announced by the authorities of both nations and, in order to ensure that the Caldera Port, located on the Pacific coast of Costa Rica, has the optimal conditions for the new form of commercial exchange, the Central American Bank for Economic Integration (CABEI) approved a non-reimbursable technical cooperation for US$1 million to enable the Reserved Port Zone.
The funds will be used to carry out various operations such as the refurbishment of cargo storage yards, the creation of an additional 500-meter road lane on Route 23 and the construction of an independent entrance to the National Coast Guard (SNG) Operations Center, as well as two bridges to incorporate both the new yards to the Port's primary zone and the new SNG access, among others.
"This project is of great relevance for CABEI, the Central American Bank that promotes regional integration and economic development by articulating efforts between our countries for the common welfare of the region. The ferry between Costa Rica and El Salvador will strengthen and expedite the development of intraregional and interregional supply chains, and will improve competitiveness by considerably reducing freight transport times from 4 days to approximately 18 hours," said CABEI Director for Costa Rica, Erwen Masís.
This initiative contributes to the articulation of efforts to develop impact projects in infrastructure, interconnectivity and social development for the countries of the region, which in turn was considered to be declared of "public interest" by the Government of Costa Rica in August 2020.
According to the criteria of the agreement, the Ministry of Public Works and Transportation (MOPT) will be the executing agency of the financial cooperation; while CABEI will carry out the contracting processes for the goods or services required for the execution of the plan.
The cooperation, which is in line with the regional integration and sustainable competitiveness strategic axes of CABEI's Institutional Strategy, is expected to be executed within 6 to 9 months after the start-up order.
