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.
A $43.5 million credit line will help integrate different regions and promote economic and social development
The Inter-American Development Bank today approved a $43.5 million credit line to help Nicaragua improve traffic and safety conditions on the national road system, integrating different regions and contributing to the country's sustainable economic and social development.
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Armstrong Equipment, Inc. is an American based company that specializes in the distribution to Latin America of equipment and parts used in the mining sector, rock crushing and asphalt paving.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (305) 592 8361