Latin American development bank CAF has approved US$1.87bn in loans for infrastructure and water projects in seven countries in the region.

Financing for projects in Argentina, Colombia, Ecuador, Bolivia, Panama, Trinidad and Tobago and Uruguay was announced at a CAF meeting in Buenos Aires attended by top regional government and finance sector officials, including Argentine President Mauricio Macri.

"What has been achieved is truly very important and we understand, at this stage of Argentine politics, that spending is not the same as investing, and that what creates a future is investment," Macri said.

 

CAF president Enrique García ​(left) and Argentine President Mauricio Macri(CREDIT: CAF)

 

Argentina received the biggest package of loans, for US$620mn, earmarked for initiatives in Buenos Aires province. Next was Colombia, awarded a loan for US$450mn.

CAF president Enrique García said the loans will play an important role in helping countries achieve their development goals.

"Furthermore, they reflect our commitment to economic and social development that is inclusive and that improves the quality of life of all of those living in the region," he said.

Loans were provided for the following projects:

ARGENTINA

Paseo del Bajo highway project

US$400mn for the construction of a 7km highway corridor in Buenos Aires city, with the aim of improving urban mobility and integrating commercial transport especially in the area surrounding the city's port and station Retiro.

Further details available here, in Spanish.

Implementation of first stage of the integrated management plan for the Lújan river basin

US$100mn to prevent flooding, manage control of streams, and moderate effects of flooding in the basin of the Luján river in Buenos Aires province.

Potable water treatment plant projects in the districts of La Plata, Berisso and Ensenada

US$119mn to build water treatment plants that will serve the demand for potable water and improve the efficiency of provision systems in the districts of La Plata, Ensenada and Berisso, in Buenos Aires.

COLOMBIA

- Modern city program and infrastructure for sustainable land integration

US$450mn to support strategic public policies to improve connectivity in post-conflict areas, to promote sustainable urban development, and optimize public transport systems in Colombia.

Further details available here, in Spanish.

ECUADOR

- Emergency support for earthquake damage response

US$100mn to support the government in support processes and relocation of people affected by the earthquake, as well as the reconstruction and recovery of urban infrastructure and housing in the affected regions.

Further details available here, in Spanish.

BOLIVIA

- El Salto-Monteagudo highway and the tunnels Cazaderos and Cazaderitos

US$220mn to finance the construction of two key tunnels and a highway corridor that strengthen internal connectivity as well as regional integration with bordering countries via the south-west highway corridor.

Further details available here, in Spanish.

PANAMA

- Residual water management project for Burunga and Arraiján Cabecera

US$95mn for the construction of a wastewater collection and treatment system to improve the quality of life of approximately 83,100 people in Burunga and Arraiján in Arraiján district, in the province of western Panama.

Further details available here, in Spanish.

TRINIDAD AND TOBAGO

- Support for macroeconomic strategy

US$300mn to boost the consolidation process of the country's fiscal accounts, increase efficiency of public spending and kick-start process of diversifying the economy.

Further details available here, in Spanish

URUGUAY

- Improvement of secondary and tertiary road networks

US$80mn to finance the rehabilitation and maintenance of 280km of secondary and tertiary road networks that connect rural regions with the coast, and through which an important part of agricultural and livestock production is transported.

Further details available here, in Spanish

 

Source: BNamericas

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