CABEI and Republic of Korea to contribute to studies for the modernization of San Salvador's urban bus transportation system
• A non-reimbursable technical cooperation grant of US$550,000 from the Korea-CABEI Partnership Single Donor Trust Fund (KTF) is expected to carry out a comprehensive overhaul of the bus transportation system in San Salvador.
San Salvador, January 16, 2023- With the objective of supporting the Government of El Salvador (GOES) with the necessary studies for the modernization of the urban bus transportation system in the city of San Salvador, the Central American Bank for Economic Integration (CABEI) will be executing a non-reimbursable Technical Cooperation for US$550,000 recently approved by the Republic of Korea within the framework of the Korea-CABEI Partnership Single Donor Trust Fund (KTF).
Through this cooperation, it is expected to obtain a comprehensive evaluation and the necessary information to modernize the existing bus transportation system through the restructuring of transportation routes, as well as to obtain recommendations regarding the replacement of fleets with more modern ones and the technical and economic feasibility for the possible incorporation of electric and Compressed Natural Gas buses (CNG); as well as the integration of a cashless payment system.
CABEI's Executive President, Dr. Dante Mossi, indicated that "the modernization of the mobility and transportation sector continues to be promoted by CABEI in the countries of our region, and with this Technical Cooperation, the city of San Salvador will have a more efficient, economic and sustainable transportation system that is more operationally efficient, thus reducing traffic congestion and accidents, and increasing the safety associated with the transportation sector, while at the same time mitigating greenhouse gas emissions.”
In addition, recommendations will be made on business and governance models to be followed, as well as regulatory reforms if necessary, while knowledge transfer in the transportation sector will be carried out with key public and private stakeholders in order to strengthen their institutional capacity to implement and manage the proposed interventions.
With the implementation of the Technical Cooperation, it is expected to contribute to the Government of El Salvador to develop a strategy to attract investment, and to facilitate the participation of public and private companies as part of a joint commitment to the reform of the bus transportation network in San Salvador.
The implementation of the Technical Cooperation is scheduled to start during the first quarter of 2023.