$ 10 Million for Custom Services in Puerto Cortes

The IDB loan will help improve control, security and custom services at the Honduran port terminal.

Friday, December 3, 2010

Puerto Cortes handles 81% of freight and 76% of vessels entering and leaving Honduras and is the main port in Central America.

This project is the first of its kind in Latin America and the Caribbean and aims at improving the safety and fiscal control in order to facilitate and accelerate verification of legitimate trade. To achieve this complex balance between control and facilitation, the project follows international practices applied to border management and recommendations contained in the SAFE Framework of the World Customs Organization.

After completion, the project hopes to reduce the average time of verification of goods at customs from 19 hours to 6 hours and to double the quantity of goods seized due to illegal activities and smuggling. Puerto Cortes will be able to provide Customs a low cost, high quality operation and become the competitive regional logistics center it expects in order to triple container traffic by 2021.

The project includes:

* Change management system based on paper documents to an electronic and data analysis before the arrival of the goods at the port in a framework of interoperability between agencies and logistic operators;

* Quick release of goods, following analysis of advanced information on cargo and managed electronically, based on objective risk criteria, which will drastically reduce the number of physical inspections and clearance of goods which do not pose a threat;

* Automatic connection to the goods in transit system based on the highly successful TIM project already operating in Central America.

* Surveillance and security systems to help detect tax fraud and any other threat to national security of Honduras.

IDB will help equip customs administration building infrastructure, electricity, communications and provide furniture to improve customer service. Also install a backup data center in San Pedro Sula and infrastructure in port customs facilities, such as security measures to ensure availability of customs data services in the area 24 hours a day, 365 days a year.

The IDB financing consists of a loan of U.S. $ 7 million, at a 30-year fixed rate with a grace period of 5.5 years and a disbursement period of 4 years and another loan of U.S. $ 3 million for 40 years, an interest rate of 0.25 percent and a disbursement period of 4 years.

More on this topic

Nicaragua: $61.5 million for Road to Atlantic Coast

December 2014

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.

$ 135 Million Expansion in Honduras’s Puerto Cortes

December 2010

The IDB loan will finance the dredging of the harbor and port locations as well as the construction of a new container terminal.

Honduras will expand and modernize the largest port in Central America with funding provided by the Inter-American Development Bank (IDB) for a total of $ 135 million.

Costa Rica to expand San José international airport with IDB assistance

December 2009

Terminal's operator will use $45 million loan to refinance debt, carry out key infrastructure and service improvements

The Inter-American Development Bank approved a $45 million long-term loan to help finance the expansion of the Juan Santamaría International Airport in San José, Costa Rica, and support its new operator's plans to refinance debt.

Expansion at Puerto Cortes in Honduras

January 2009

Prior to the approval of the loan for the Expansion and Modernization Plan, a IDB mission will evaluate the National Port Company starting tomorrow.

According to latribuan.hn, "the higher port authority will offer the visitors a general overview of the port, and aspects relating to government expectations for the port, information related to auditing, administration control and the budget preparation process.

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