CABEI promotes high impact project for Mesoamerican Pacific Corridor
With almost 55 years of experience, CABEI has a wide knowledge of the needs and development priorities of the countries of the region.
San Salvador, El Salvador, September 4, 2015. - As a strategic partner of the Mesoamerica Project, the Central American Bank for Economic Integration (CABEI) will support the construction of four projects, including the “Expansion of Stretches II and III of the Highway to Puerto La Libertad” and the “Construction of the Arce and Anguiatú Bridges in the Towns of La Hachadura and Anguiatú, located on the border between El Salvador and Guatemala."
The total financing amounts to US$144.70 million, which will be structured into three components: the first component involves Enhanced Support in the amount of US$ 124.09 million; the second component is a Simple Donation amounting to US$3.97 million; and the third component totals US$16.64 million in financing from Ordinary Funds. The resources for the Enhanced Support and the Simple Donation will be provided by the Infrastructure Fund for Mesoamerican and Caribbean countries in the framework of the Mexican government’s Yucatan Fund.
The agreement was signed today by Salvadoran Minister of Finance Mr. Carlos Caceres and CABEI Director for El Salvador Mr. Guillermo Funes. The Salvadoran Minister of Public Works, Mr. Gerson Martinez; the Salvadoran Vice Minister of Development Cooperation, Mr. Jaime Miranda; and the Mesoamerica Project Director, Ambassador Bruno Figueroa were present as witnesses. The signing ceremony was also attended by Salvadoran Vice President Mr. Oscar Ortiz, delegates from the Mexican Embassy in El Salvador, CABEI representatives and Salvadoran congressmen, among others.
The development intervention involves the design and construction of four highway projects consisting of two border bridges and two highway stretches. The bridges will be constructed in the western part of the country at border crossings with Guatemala, and the highway stretches will form part of Route CA-4, the highway that leads to Puerto de La Libertad from the central part of El Salvador.
The project seeks to ensure safe continuous circulation of heavy and light traffic at border areas with a secure rolling surface that guarantees highway durability and constant high-speed vehicle traffic.
In addition, the project will provide more streamlined connectivity with the Panamerican Highway (Pacific Corridor of the International Network of Mesoamerican Highways), thereby improving the competitiveness of productive sectors and promoting physical integration, both local and regional.
As Central America’s development bank, in its 2015-2019 Institutional Strategy, "Integrating Sustainable Development and Competitiveness," CABEI promotes initiatives that contribute to improving the quality of life of the region’s inhabitants by supporting Human Development and Social Infrastructure programs and projects, fostering modernization processes and strengthening the institutional framework of Central American countries.
