$80 million loan signed for upgrading Caracol Road

BBN Staff: Today, a US$40 million loan was signed between the Government of Belize and the OPEC Fund for International Development (OFID) for the Caracol Road Upgrading Project.

PM Barrow signed on behalf of the Government of Belize and Director-General H.E. Dr. Suleiman Al-Herbish signed on behalf of OFID.

Under the Caracol Road Project – Phase 1, approximately 45.5 km (26.4 miles) of graveled road will be upgraded to an all-weather, paved standard.

Five double-lane reinforced concrete bridges will be constructed within this phase.

Additionally, the Georgeville and Santa Elena access roads to the Caracol archaeological site will be upgraded as well as an additional 9 km from the tripartite intersection.

This transport sector project was appraised by the OPEC Fund for International Development and presented to its board of directors who approved the loan to the Government of Belize at the end of 2016.

Procurement of supervision consultants and construction contractors will now commence.

 

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