CABEI signs contract for US$44 million to boost connectivity in Honduras

Tegucigalpa , December 17, 2018.- The Central American Bank for Economic Integration (CABEI) granted financing to the Republic of Honduras for approximately US$44 million to support the project denominated, "Improving connectivity between the Peripheral Ring and the CA-5 Southern Highway."

Participants as witnesses of honor at the event included the President of Honduras, Attorney Juan Orlando Hernández; CABEI Executive President, Dr. Dante Mossi; and Honduran Minister of Finance, Ms. Rocío Tabora.

During his speech, President Mossi stated that, "This project will increase the competitiveness of the area by reducing vehicular operational costs and travel times for users, improving the comfort and safety of transportation services, both cargo and passengers."

He added that, "Additionally, it will improve the quality of life in the target area through the streamlining of vehicular circulation and the increase of surplus value in the area, as well as the generation of direct and indirect employment during the construction process."

He concluded his participation stating that, "CABEI's contribution goes beyond financing, we are the strategic ally of the region and the financial muscle that moves the Central American integration, investing continuously in projects with impact on development to reduce poverty and inequalities."

From 2014 through November 2018, CABEI has supported the countries of the Central American region with financing for infrastructure investment projects in the amount of US$2.71 billion.
During the same period in Honduras, CABEI has financed programs and projects for an amount of US$860 million dollars with the aim of increasing the country's competitiveness and social development and providing conditions to increase sources of employment and investment.

About the project
The project involves the construction of a completely new four lane 5.38 km highway from Tegucigalpa to the CA-5 Southern Highway; it is expected that in the future, the highway will have six lanes.
The objective of the Project is to improve the southern access to the City of Tegucigalpa, achieving a more efficient connection between the Peripheral Ring and the CA-5 Southern Highway, adapting to the perspectives of national and regional economic development and solving the present traffic congestion that occurs on a daily basis.