A $64 million loan will help improve quality and traffic conditions, accessibility and safety of key road in the Santa Cruz Department, benefiting in particular Florida Province farmlands
Bolivia will continue to improve its road network, focusing on enhancing connectivity of its productive centers with national and international markets, by rebuilding and improving the Mairana-Bermejo segment with financing from the Inter-American Development Bank (IDB).
The project will include paving, slope stabilization, platform recovery and improvement, as well as traffic lane enhancements in 20 percent of the 58.2 km-long tranche, providing a significant advance to the country’s Fundamental Road Network.
The roadworks will reduce vehicle operation costs as well as travel time and increase average daily traffic by 438 vehicles by 2020 and by 2,265 units by 2038. Some 52 percent of traffic is expected to be freight and public transport (buses) vehicles.
Some of the features intended to help achieve high-quality service and enhanced safety standards include speed reduction devices in urban areas and near educational facilities. Other features will comprise strategies to boost climate change resilience of the infrastructure, as well as conservation arrangements that include multi-year contracts to ensure investment sustainability.
Overall, the project will contribute to increase Bolivia’s road transportation reliability and predictability and boost the competitiveness of its productive sector.
The IDB lending includes $54.4 million from the Bank’s ordinary capital, with a 22-year term, a 6.5-year grace period, and LIBOR-based interest rate; and a $9.6 million concessional loan for a 40-year term, with 40 years of grace and 0.25 percent interest.
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean.The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.