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Tegucigalpa – The Honduran government and the Latin American and Caribbean Development Bank (CAF) signed on Monday in Tegucigalpa four loans totaling US$350 million for infrastructure, financial support for coffee growers, micro, small and medium enterprises and social projects in gender equality.
The letter of understanding was signed by Honduran Finance Minister Marlon Ochoa and CAF Executive President Sergio Díaz-Granados during an event at the Presidential Palace.
In his speech, Ochoa stressed that with the signing of the agreement, “we celebrate the strengthening of ties with institutions such as the Latin American and Caribbean Development Bank -CAF, which are of great importance for the development of our region.”
The official said Honduras’ inclusion in the regional bank in November 2023 marks a “major milestone” in the country’s history, adding that they had “started this relationship in the right way.”
Of the total resources, US$160 million will finance the construction of a bypass highway (interconnector) from the northern city of San Pedro Sula to the west of the country, according to official information.
CAF also provided $80 million to Honduras for projects to promote gender equality and social inclusion, and $70 million to the Ministry of Finance’s pre-investment and public investment programs.
Another $40 million will finance a project to support the coffee sector by designing direct financial instruments and guarantees and strengthening the institutions of the National Agricultural Development Bank (BANADESA).
Honduras: a “just, fair and inclusive” country
Ochoa stressed the need to create a “fair, just and inclusive Honduras where we all have the opportunity to progress and on this path the partnership with CAF has become a fundamental pillar.”
He also highlighted CAF’s “flexibility and commitment” in approving the first loan to Honduras last July, which demonstrated the regional bank’s “confidence” in the Central American country and the importance it places on promoting “inclusive and equitable development.”
The $80 million credit issued in July “is backed by a public policy matrix designed to support regulatory and institutional changes aimed at empowering women and promoting the social inclusion of our most vulnerable communities, people with disabilities, indigenous peoples and Afro-Hondurans,” Ochoa explained.
According to CAF, the loan was approved for programs that promote “gender equality and social inclusion.”
Díaz-Granados said he hopes CAF will continue to approve more resources for Honduras to be used for infrastructure projects.
“As a development bank, our purpose is to complement the projects and aspirations that the Honduran government has to transform the many initiatives that have been proposed into development, and the bank wants to be a traveling partner in this process,” he stressed.
The CAF president expressed confidence that the dialogue with the Honduran government will translate into “effective investments” and “social policies” that will achieve infrastructure improvements and “point toward economic growth in the country.”
Emphasizing that poverty reduction is “a huge challenge” in the region and in Honduras in particular, Díaz-Granados stressed the importance of “expanding” the relationship between the Africa Aid Fund and the Honduran government. Efei
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