Peruvian Government and the Inter-American Development Bank (IDB) signed a loan agreement for US$80 million to partially finance the upgrading of Huanuco-Conococha Highway.
The
project is intended to improve Huanuco–La Union–Huallanca road and preserve Huallanca-Desvio Antamina and Tingo Chico–Llata–Antamina stretches.
The initiative will be executed by the Peruvian Transport and Communications Ministry through the Special National Road Project (Provias Nacional).
Once concluded, the project will benefit 272,183 people, many of whom are low-income and live in rural areas.
Additionally, it will cut travel times and reduce travel costs for both passengers and freight.
Beneficiaries will also enjoy a better quality of life through improved access to local and regional markets.
The signing ceremony featured IDB President Luis Alberto Moreno and MTC head Bruno Giuffra.
The document was inked by Economy and Finance Minister Fernando Zavala, on behalf of the Peruvian President.
It must be noted the loan shall be repaid due on April 15, 2027.
(END) CNA/CAN/RMB
Published: 9/14/2017