$ 30 Million for Honduran Public Transport

The IDB loan will help implement a bus network in Tegucigalpa and Comayagüela.

Wednesday, November 24, 2010

Honduras will implement a modern public transport system in the Central District and improve the quality of life for residents of major urban centers with a loan of U.S. $ 30 million approved by the Inter-American Development Bank (IDB).

The objective of this project is to build a competitive city, efficient and equitable, with opportunities for sustainable mobility for the lower income population and provide transportation to job opportunities and economic and social development.

The Central District Municipality (CDMA), formed by the cities of Tegucigalpa and Comayagüela, has about one million residents mainly located in the outskirts.

The loan will finance the implementation of a modern bus transport system.

Resources will be used for various activities including the design, structure and implementation of an integrated public transport of passengers traveling by bus, prioritizing their high capacity through a system of segregated lanes.

The IDB financing includes a loan of U.S. $ 21 million within 30 years, a grace period of 5.5 years and an interest rate based on LIBOR, and another $ 9 million loan from the Fund for Special Operations with a grace period of 40 years and an interest rate of 0.25 percent. The balance will be $ 3 million financed by the Central District Municipality.

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The loan, which has a grace period of 4 years, will be paid off over 25 years.

A document from Inter-American Development Bank (IDB) reads:

“The project will improve the quality of life of the inhabitants of AMSS, by reducing travel time, extending the range and coverage of public transport and providing greater convenience to users as well as contributing to improved air quality. People with low financial resources are the main users of public transport and often have to make longer trips and travel combinations. An integrated system will result in a decrease in transport cost. An ordered transit system, reduced congestion, the use of modern technology buses with low emissions and better use of urban spaces will result in a reduction of CO2 emissions, air pollution and noise levels.”

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$ 10 Million for Financial Management in Nicaragua

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The loan from the Inter-American Development Bank (IDB) will provide more efficiency and transparency in public expenditure.

Nicaragua will improve the efficiency and transparency of public expenditure and modernize the process and management systems of state finances with the help of a loan of U.S. $ 10 million from the Inter-American Development Bank (IDB).

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