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BCIE - Banco Centroamericano de Integración Económica

10/26/2021 | Press release | Distributed by Public on 10/26/2021 12:31

CABEI approves US$207 million for integrated logistics development project in the Gulf of Fonseca area, including the construction of the Coyolito-Amapala Maritime Vehicular[...]

Tegucigalpa, October xx, 2021.- The Central American Bank for Economic Integration (CABEI) continues to support the improvement of competitiveness in the Republic of Honduras, on this occasion by approving US$207.8 million in financing for the construction of a Vehicular Maritime Bridge to link the country's Pacific-Atlantic trade route. This operation is one of the projects prioritized by the Government of the Republic of Honduras through the Gulf of Fonseca Development Master Plan, which requires the construction of a new port on Isla del Tigre and a bridge to connect the island with the mainland.

CABEI Executive President, Dr. Dante Mossi expressed: "We are pleased with the approval of this regional integration financing that will transform this area into a logistical center to attract private sector investment and boost tourism, energize environmental assets in the Gulf of Fonseca region and the municipality of Amapala, improving the living conditions of the island's inhabitants and reducing poverty levels".

The maritime bridge of approximately 2,016 meters will connect Isla del Tigre with the community of Coyolito. It is estimated that this project will initially benefit more than 210,000 annual visitors to the municipality of Amapala and its 13,586 inhabitants, 49% of whom are women. In addition, 605 temporary jobs will be generated during execution of the project. The financing also includes promoting municipal land use planning to manage the potential increase in vehicle traffic on the island, improving energy, potable water, and sanitation services, as well as investments to conserve and strengthen the balance of the natural and anthropogenic dynamics of the Gulf of Fonseca reserve zone.

The project will begin its pre-investment stage, including a consultation process with local stakeholders prior to the preparation of the studies and the final engineering design of the bridge, as well as the basic design of the first phase for the construction of the Port of Amapala. The financial terms of the loan are for a 20-year term including a 5-year grace period and an indicative annual interest rate of 2.56%.