Today in Luxembourg, the President of Honduras, Juan Orlando Hernández and European Investment Bank President, Werner Hoyer, signed a USD89 million finance contract for the rehabilitation and upgrading of road sections along the Western Corridor. The project will have positive social and economic impacts and will foster regional integration.
The loan will finance the rehabilitation and upgrading of the road section (i) La Entrada - El Florido, a single carriageway road with a total length of 73 km connecting Honduras with Guatemala and the road section (ii) 43km-long single carriageway connecting La Entrada with Santa Rosa de Copan. In addition, the EIB loan also includes investments for the implementation of a package of road safety components, including horizontal and vertical signing, lighting and barriers.
President Hoyer stated: “Like other countries in the region, Honduras faces big challenges in accelerating its economic and social development.By developing road infrastructure, the EIB funding will support growth and job creation and it will as well strengthenthe competitiveness of the region and increase trade with neighboring countries Guatemala and El Salvador. Living conditions of the local communities in one of the poorest and most deprived regions in Honduras will be significantly improved through enhanced, safer connectivity and better access to centralised social services”.
The project, which forms part of Corredor de Occidente, a top government priority within the comprehensive road development plan launched by the Government, is being cofinanced by other financing institutions and has received a grant from the EU’s Latin America Investment Facility (LAIF) to support investment and technical assistance.
The EIB is providing this loan under the current Latin America mandate, which enables it to support investments designed to develop economic and social infrastructure.
The EIB has signed a EUR 25 million, 20-year tenor, loan agreement with the Põhja-Eesti Regionaalhaigla or North Estonian Medical Centre (NEMC). The financing will support the new construction of a psychiatric clinic, as well as a new building to consolidate the pathology, oncology and haematology departments of the hospital, responding to an urgent need for better inpatient and outpatient facilities. Next to the EIB loan the project is financed by the Nordic Investment Bank, European Structural Funds, and is expected to benefit from an upcoming loan from the Council of Europe Development Bank (CEB).
The EIB signed a EUR 31 million loan with Elektro Maribor, electricity distributor from Slovenia`s second largest city of Maribor; the loan will go towards maintenance or improvements in the reliability and in quality standards of electricity supply. The EIB loan supports Elektro Maribor`s EUR 81,2 million investment in reconstruction and development of its electricity distribution network in order to minimise power blackouts and blackout-related damage to property and environment.
The EIB is assisting the Madrid Region in its efforts to tackle the COVID-19 health emergency. The EU bank is providing a EUR 600 million loan on favourable terms to enable the authorities to adapt Madrid’s health facilities and cope with the additional health costs caused by the pandemic.