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 project consists of the rehabilitation and upgrading of the road sections CA-11 La Entrada - El Florido and CA-4 La Entrada - Santa Rosa de Copán (in total 116 km). Both road sections form part of the Western Corridor of the primary national road network, connecting the second biggest city of the country -San Pedro Sula- to the international border crossings with Guatemala and El Salvador.
Development of the indicative extension of the TEN-T Road Network to the Western Balkans will bring our region closer together and integrate it with the European Union. This was recognised as a key priority of the pledge “Dedication to Roads of the Future”, signed today by all transport ministers at the Western Balkans Road Summit held in Tirana. The summit, which was organised by the Transport Community Permanent Secretariat, the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), and under the auspices of the Ministry of Infrastructure and Energy of Albania, gathered ministers from the Western Balkans, representatives of the European Commission and road sector practitioners for discussions on how to create a climate resilient, intelligent, and resource-efficient road network in the Western Balkans.
On his first official visit to Honduras Werner Hoyer, President of the European Investment Bank (EIB), met today with Honduran President Juan Orlando Hernández in the country’s capital. Further meetings were held with Finance Minister Wilfredo Rafael Cerrato and Minister of Infrastructure Roberto Ordoñez. The talks focused on the Bank’s engagement in the country’s transport and energy sector. EIB’s visit was supported by the EU Delegation to Honduras.
The EIB today entered a partnership with the three NGOs leading Road Assessment Programmes (RAP) as part of the global drive to halve the 1.35 million annual global road deaths by 2030. The Memorandum of Understanding was signed at the 3rd Global meeting of Road Safety Ministers in Stockholm.