The project will help reduce transportation costs, increase traffic speeds, reduce traffic accidents and network vulnerability to climate change impacts. The resources will be administered by the Ministry of Transport and Infrastructure (MTI) and the Road Maintenance Fund (FOMAV) of Nicaragua, will also help stimulate economic activity and welfare of Nicaraguans.
The competitiveness, efficiency and effectiveness of industry, agriculture and commerce depends on the Nicaraguan transport system. Currently about 300,000 vehicles circulate on national roads mobilizing more than 10 million tons, of which more than 25 percent is foreign trade cargo. Road transport is indispensable for the integration of the productive regions to the national economy and the main link between productive sectors and export markets. Therefore, the project will benefit the internal integration of the country and other Central American countries.
The loan will focus on infrastructure and productive ways to improve paving, structural reinforcements, drainage, construction of bridges and road signs. FOMAV finance periodic maintenance to ensure sustainability of investments.
The Inter-American Development Bank has approved a loan of $61.5 million to improve access by road to the South Atlantic Autonomous Region.
From a statement issued by the Inter-American Development Bank (IDB):
The Inter-American Development Bank (IDB) has announced the approval of a loan of US $61.5 million to Nicaragua to improve the quality of transport services and national and international integration of the country.
Maranco Belize offer fast reliable service, modern equipment, competitive rates, 70 year experience worldwide whether your needs are for farming, industrial, private house lots, community projects. We have drilled successful water wells producing fresh...