CAF approves a USD 175 million loan to modernize transportation infrastructure in Trinidad and Tobago

CAF -Development Bank of Latin America– approved a USD 175 million loans in favor of Trinidad and Tobago, with the objective of modernizing transportation infrastructure, through actions related to the development of plans, regulatory and strategic changes, initiatives to modernize processes and investments in the sector.

The loan will be used for institutional strengthening, particularly updating plans, strategies and modernizing the regulatory framework of process management, such as updating laws related to land transport, developing a policy for the maritime sector, plan strategies for public transport and the air sector, quality systems, etc. Additionally, the credit will tackle activities to improve the quality of infrastructure, with initiatives such as feasibility studies, modernization of roads, ports, and airports, road maintenance, among others.

“The quality of transport infrastructure and services are key factors to enhance economic development, productivity and competitiveness. This loan will support the process of improving services and the management of the transportation sector in Trinidad and Tobago and will offer competitive advantages to serve the market and provide better services to its citizens”, said Renny López, Interim Executive President of CAF.