GUATEMALA CITY – The Central American Bank for Economic Integration (CABEI) approved a $15 million loan to improve the technological development of air navigation services in the region, the financial institution said on Wednesday in a press release.
The loan was signed in Tegucigalpa, Honduras, by CABEI CEO Nick Rischbieth and representatives of the Central American Corporation for Air Navigation Services, a regional organization that will manage the resources.
The agreement “will allow technological development in air navigation services, which will result in a safe and efficient delivery of traffic control services in Central American airspace.”
The project involves the purchase and installation of a radar in Las Nubes, Nicaragua.
“This operation is an example of our efforts to finance infrastructure projects that will boost the competitiveness of the region,” Rischbieth said.
