The OPEC Fund supports projects to improve the structure of the mobility sector in Paraguay with $50 million
Vienna, January 23 / WAM / The OPEC Fund for International Development (OPEC Fund) agreed to provide a loan worth $50 million to Paraguay, to finance projects to modernize and rehabilitate infrastructure in the field of transportation and the road network and enhance regional connectivity.
Dr. Abdul Hamid Al Khalifa, Director General of the Fund, stressed the importance of effective infrastructure in the transportation sector as a basic necessity that allows taking advantage of economic potential and connecting communities.
A statement issued by the Fund’s headquarters in the Austrian capital, Vienna, stated that the project to develop the national road “PY22” and the main roads in the province of “Concepcion” in northern Paraguay contributes to improving the ability to move and trade, enabling greater access to basic services, and providing tangible benefits to communities in Paraguay. .
The statement explained that the loan supports the financing of a project to develop a 176.2-kilometre-long section of the road linking the southern and northern ends of the Concepcion province, and about 41.2 kilometers of roads leading to the province and others linking it to the free trade zone in the northeastern region.
The road improvement project contributes to facilitating the transportation of basic goods, such as building materials, agricultural products, and livestock, supports private sector investments, enhances economic activity and regional trade, and plays a positive role in promoting economic integration.
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