Paraguay's finance ministry has signed a US$19mn loan agreement with OPEC's Fund for International Development (OFID) to modernize and restructure the country's urban transport system and central government offices.
The public works and communications ministry (MOPC) will carry out the project, with the finance ministry providing support for its legal and administrative aspects.
The project will be carried out in three stages. The first includes urban infrastructure repairs, civil works and technical assistance, budgeted at US$4mn, according to a finance ministry release.
A second phase will focus on studying, designing and building the first metropolitan public transport corridor between San Lorenzo and the capital city, in Central district, requiring some US$15mn.
Finally, the third phase will center on improving central government offices, which will be backed in part by IDB and local government funds.
Work is due to wrap up in five years' time.