IDB Lends for Honduras Road Network

IDB will lend $20m to Honduras to improve road access to the city of San Pedro Sula, the multilateral says. The IDB financing includes a 30-year, $14m loan, with a 5.5-year grace period, at an adjustable interest rate, and a $6m 40-year concessional loan from the IDB fund for special operations, at a 0.25% rate. Local counterpart funds will total $2m. The ministry of public works, transportation and housing will carry out the program. The operation, in the context of a program for the integral improvement of the CA-5 Norte Highway, will expand and rehabilitate the Second Peripheral Ring Road between the northern headquarters of the Chamelecon river and the Gala intersection, to ease the congestion that occurs as the road cuts through the city, the multilateral says.