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- Upgrading of Caracol Road Project, Phase I
Upgrading of Caracol Road Project, Phase I
Belize
| Borrower | Belize |
| Financing Type | Public Sector |
| Instrument | Project Loan |
| Focus Area | Transportation |
| Approved | 12.12.2017 |
| Signed | 26.04.2018 |
| Status | Ongoing |
| Loan Administrator | OPEC Fund |
| Executing Agency | Ministry of Works (MoW) |
| Co-financiers | Government of Belize |
| OPEC Fund Contribution (US$m) | 40.00 |
| Total Project Cost (US$m) | 51.44 |
To upgrade a 42.5km stretch that provides the sole link between the George Price Highway and the Caracol Archaeological Site in the Cayo district, an area heavily reliant on agriculture and tourism. The improved road will help ease travel constraints and boost income-generation, thus helping reduce poverty for 30,000 people; some 50,000 people are expected to benefit indirectly from the project.