Funding Approved for Highway in Honduras

From the press release:

28 million dollars approved for the CA-5 North Highway

A full congressional session approved the loan to the order of $28 million which will be administered by the Cuenta del Milenio - Honduras to complement the expansion works and improvements to the CA-5 North Hightway and the construction of the Interconector Milenio .

This loan agreement was signed between the Government of Honduras and the Central American Bank for Economic Integration BCIE in August 2011.

These resources are in addition to the 130 million originally approved by the BCIE for the completion of the work that began with a donation from the Government of the United States of America through the Millennium Challenge Corporation funds which were executed successfully by Cuenta del Milenio - Honduras.

More on this topic

Honduras: Construction Begins on $93 Million Highway

July 2010

Work has begun on the widening of the Tegucigalpa-Río del Hombre-Las Mercedes stretch of the CA-5 highway.

The project is made possible by a loan from the Central American Bank for Economic Integration (BCIE) and funds from the Inter-American Development Bank (IDB) and is expected to be completed by June 2012.

Honduras to Force Expropriation of Lots In Dry Channel

April 2010

Congress passed a bill to expropriate, under public interest, land required to widen the CA-5 North highway.

This project was stalled as landowners and government weren’t unable to agree on how much the first should be paid for the land.

Time is of the essence, as $105 million donated by the Millenium Challenge Account must be spent before September.

CABEI Holds Disbursements until Honduras Pays $5 Million

February 2010

CABEI is holding $130 million in disbursements until the country pays a pending balance of $5 million.

These $130 million from the Central American Bank for Economic Integration are earmarked to build a highway in the north of the country, a project managed by the Millennium Challenge Account.

BCIE provides $130 million loan to Nicaragua

December 2008

At the request of the government, the BCIE approved the loan for which the country will provide the equivalent for the construction of two roads, in addition to the Millennium Challenge Account.

The first of the two highways will join La Paz Centro in Malpaisillo with Villa 15 de Julio, to form an alternate route to El Guasuale; the second road is from Nejapa, Izapa to Puerto Sandino.