Funding of road works to improve mobility in Canelones
The multilateral agency signed an agreement with the Ministry of Economy and Finance and the National Development Corporation to improve mobility in the Department of Canelones.
CAF-development bank of Latin America- signed a loan agreement with the Ministry of Economy and Finance and the National Development Corporation (CND) to improve mobility and enhance connectivity and logistics in Canelones.
The agreement will fund the Road Infrastructure Program for Mobility, which will cost $25 million – $20 million funded by CAF and $5 million by the national government. The CND will be responsible for implementing the program and using the funds through its trust entity Corporación Nacional Financiera Administradora de Fondos de Inversión S.A.
The agreement was signed by Minister of Economy Danilo Astori, CAF’s director in Uruguay, Germán Ríos, and the President and Vice-President of CND, Jorge Perazzo and Germán Benítez.
“Investment in infrastructure is crucial to ensure the long-term growth of countries, the sustainable development of communities and their inhabitants, and regional integration. Therefore, it is essential for CAF to support such projects, cutting down logistics costs and improving mobility in the Department of Canelones,” said Ríos.
The program involves the implementation of infrastructure projects in approximately 40 km of roads, distributed across different areas of Canelones. Besides sidewalk expansions and renovation of existing road surfaces, the project also includes construction and renovation of urban spaces, new sidewalks, access to establishments and homes, and lighting, among other improvements.
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