PARAMARIBO, Suriname, November 28, 2008 – The Inter American Development Bank (IDB) is providing up to US$62.5 million to help Suriname rehabilitate and improvement works along one of the country’s busiest routes.
The IDB said the loan would assist in repaving the 140-kilometre Meerzog-Albina road, which links the capital Paramaribo with the eastern border with French Guyana. That stretch has undergone little maintenance since its construction in the 1960s.
The programme will also widen the road, refurbish seven of its 14 bridges, upgrade the existing 60 culverts, and improve urban crossings and roadside amenities such as pedestrian sidewalks, bus stops and parking areas to increase safety.
“The project aims to improve access to important productive areas and health and educational services for the population, facilitate tourism and regional integration. In addition, the investment will reduce travel time and operating costs and increase safety for pedestrians and vehicles using the road, which accounts for 23 per cent of the country’s total traffic flow,” the IDB statement released this week said.
The IDB loans will finance 49 per cent of the total cost of the project while the government of Suriname will fund the remaining 51 per cent.
The project was prepared in coordination with the European Commission and the French Development Agency, including joint missions and parallel financing of preliminary studies. The joint work of the three international donors was led by the Bank.