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 and the Instituição Financeira de Desenvolvimento (IFD) have joined forces to finance a €400 million investment programme aimed at upgrading infrastructure for long-term and elderly care across Portugal, involving approximately 150 projects. The funds will be channelled to third-sector entities already providing services for the elderly in Portugal, in particular in the fields of health, accommodation and social support.
The EIB and LBBW are providing PLN 184 million (approximately €42 million) each to finance the construction and operation of four wind farms in Poland’s Wielkopolskie region. The wind farms will be developed by German wpd AG in Jarocin Kozmin, Jarocin Wschod, Krotoszyn and Slupca Kolaczkowo near Poznan. They will have a total installed capacity of 102.5 MW, which enables them to power more than 60 000 households at peak times.
The EIB and the United Nations Development Programme (UNDP) have signed a new partnership agreement to scale up their support to countries facing situations of emergency caused by epidemics, natural disasters, conflict and other types of fragility. This agreement will enable both institutions to reinforce the resilience of partner countries and contribute to achieve the Sustainable Development Goals (SDGs). The immediate focus will be to address setbacks, mainly caused by the COVID-19 crisis, in Eastern and Southern neighborhood, Central Asia and Africa.