Morales signs US$134mn CAF loans for roads, flood control - Bolivia

Bolivia's President Evo Morales has signed loan agreements totaling US$134mn with the Andean Development Corporation (CAF), which will be used primarily to fund highway and flood control projects.
National roads administrator ABC will use a US$70mn loan to complete construction of several highway projects including the Palo Marcado-Hito BR94, Huachacalla-Pisiga, Huanuni-Bombo-Llallagua and Potosi-Tarija highways as well as the Masicuri bridge.
ABC will use another US$29mn loan for highway rehabilitation projects, state news agency ABI reported.
Water and environment ministry MMAyA will fund two flood protection initiatives in Santa Cruz and Cochabamba departments with a US$22mn loan.
The first project, requiring an investment of 176mn bolivianos (US$25mn), includes channeling and drainage work around the Grande, Pirai and Chane rivers, the ministry said in a release.
The second project involves construction of flood walls and floodways on the Chapare river in Villa Tunari at a cost of some 14mn bolivianos.
CAF expects to approve some US$2.5bn in loans for Bolivia in the next five years, said the corporation's president, Enrique Garcia.