Progress of CABEI-financed road works in Costa Rica
The US$90.05 million loan enables the execution of crucial works to alleviate road congestion in the capital.
San José, March 11, 2020.- At the beginning of the work denominated "Functional Unit I," the progress of the execution of road works covered by the Arco Norte de Circunvalación Project was made known.
As reported by the authorities of the country's Ministry of Public Works and Transportation (MOPT), interventions in strategic points in the capital have made significant progress: "Functional Unit II" 95%, "Functional Unit III" 70% and “Functional Unit IV” 50%, for which reason it is estimated that the project will be operational this year.
In December 2019, the Central American Bank for Economic Integration (CABEI) approved the expansion of financing to the National Road Council (CONAVI) of the Republic of Costa Rica for an amount of up to US$90.05 million for Functional Unit V and the renovation of the Bridge over the Virilla River on National Route 32.
Costa Rican President, Carlos Alvarado Quesada, and MOPT Minister, Rodolfo Méndez Mata, participated in the initiation act of the works at "Functional Unit I," where he thanked CABEI for its strategic participation in the project, which will positively impact more than a million users in the target areas by means of reduced travel times.