Funding found for Paraguay’s planned projects

The authorities in Paraguay have agreed a funding package with the Latin 4900 American Development Bank (CAF) for a series of infrastructure projects in the country. The funding comes in the shape of a US$222 million loan and this is the first time that the CAF has approved funding of this size for the country. This will provide partial funding for the Programme for the Improvement of Integration Corridors and Road Reconstruction. Projects included in this include resurfacing of a 73km section of road in Neembucu department, a 100km stretch of road in Canindeyu department and surfacing and reconstruction of a 237km stretch of Route No 9 from Mariscal Estigarribia-La Patria-Infante Rivarola in Boqueron. According to Paraguay’s Ministry of Works, the country requires an annual investment in infrastructure of some $1-1.2 billion.