CABEI funds used for road rehabilitation in Nicaragua

Managua, February 22, 2018.- The Central American Bank for Economic Integration (CABEI) and the Government of Nicaragua signed a loan agreement today for US $238.0 million to finance the "VII Program for the Improvement and Rehabilitation of Highways."

The loan consists on paving 194.39 kilometers, divided into six road sections with different asphalt pavement structures, hydraulic concrete, and concrete paving slab. This investment will strengthen Central American trade and integration.

The program's execution will have a positive impact on the socioeconomic development of its area of influence, benefiting an estimated 738,270 inhabitants, in addition to the population of neighboring departments and municipalities that will also use those sections as a way of passage. This will mean savings in the cost of maintenance, operation costs and vehicle maintenance, and in the reduction of travel times. The departments of Managua, Masaya, León, Estelí, Jinotega, and the Autonomous Regions of the North and South Caribbean Coast of the country will be the benefited areas.

At this event, a US $1.4 million cooperation was signed to carry out the pre-investment studies of Phase I of the southern coastal highway (La Costanera).