On March 25 in Santa Cruz de la Sierra, the President of the Plurinational State of Bolivia, Luis Arce, accompanied by the Minister of Development Planning, Sergio Cusicanqui, enacted the law approving the USD 56 million loan granted by FONPLATA for paving the Faja Norte road in Yapacaní (Santa Cruz, Bolivia). Luciana Botafogo, Executive President, and Mariana Prado, Executive Vice President, were present at the ceremony on behalf of the Development Bank.

President Arce highlighted the importance of road projects to support the industrialization process in Bolivia and contribute to the country's economic growth: “We have to speed up the works because time is very valuable for production [...] Today we are industrializing the country, and we need raw material. We must increase production with the different plants we are building around the country”.

He also thanked FONPLATA for providing a solution to the funding of a road that was long awaited by the social sectors and was postponed for so long due to the needed agreements with the subnational authorities.

As the works will be executed by the Government of Santa Cruz, Botafogo stated: “I am sure that the department of Santa Cruz will carry out this project with diligence and efficiency, complying with the established deadlines”. She also highlighted the importance of routes for the integration of the MERCOSUR countries, particularly now that Bolivia has joined this trade bloc.

The works will improve road safety and trafficability, as well as reduce travel times and freight transportation costs in one of the areas with the largest food production in Bolivia.

In addition, given that this is a critical area in terms of safety, preventive measures will be taken against gender violence, including specific signage to promote visibility and awareness of this problem.

03/26/2024