The State of Bolivia and the Development Bank of Latin America (CAF) signed a USD 3 million agreement for the financing of technical pre-investment and logistics studies for the Bi-Oceanic Railway Integration Corridor in Bolivia.
The agreement involves engineering design studies for two priority sub-sections of Bolivia’s railway interconnection network which includes updating the route and technical parameters proposed in the existing basic design study.
Technical and regulatory, comparative and standardisation analysis will also be performed for the interoperability of the railway networks between Bolivia, Brazil and Peru that are part of the project. The document calls for the application and monitoring of the CAF methodology of analysis of Logistics Integration Corridors (LICs) to identify and devise complementary projects that improve its functionality.
The bio-oceanic railway project will connect the Pacific and Atlantic coasts and will integrate the railway systems of the three countries.
“The challenge is to achieve greater regional integration infrastructure to reduce logistical costs and foster productive complementarity among countries of the region. This should be achieved together with trade and creation of social and political dynamics that can translate into economic well-being and prosperity in our nations,” CAF President, Luis Carranza, said.