Project will help increase productivity in central Argentina by reducing traffic and cutting travel time and costs along National Highway 19
Productivity in central Argentina will increase through a plan to boost highway capacity and safety, with help from a $300 million dollar approved by the Inter-American Development Bank (IDB).
The specific goals of this project include easing traffic along National Highway 19 by increasing capacity to cut travel time and costs, boosting road safety and reducing potential for the road being cut off due to weather factors. Nationwide, the goal is to improve road safety by increasing the number of stretches with designs based on modern standards.
The plan will finance construction of a new two-lane, 120-kilometer highway with interchanges at different levels and access to towns in its area of direct influence, and 35.4 kilometers of new lanes along the same highway between San Francisco and Montecristo, in Córdoba province.
It will also finance the design of the Safe Roads Program, including the drafting of technical documents, regulations and intervention protocols, as well as projects for one or two pilot roads with the new safe highway standard.
The project also calls for a logistical study to analyze the flow of freight along National Highway 19 that is headed for grain ports in Rosario.
National Highway 19 is one of the main motorways in central Argentina, connecting three of its capital cities (Córdoba, Santa Fe and Paraná). It provides access to the port of Rosario for the export of agricultural products and to the ports of Reconquista, Santa Fe and Diamante, and also links Córdoba with northwest Argentina, Uruguay and Brazil, as well as Chile via the Agua Negra Pass.
The $300 million IDB loan is over 25 years with a four-and-a-half year grace period and an interest rate pegged to the Libor. The local contribution is $200 million.
About the IDB
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.