Latinnews Daily - 19 October 2017

Argentina-Chile: The Inter-American Development Bank (IDB) has announced that it has approved US$280m in loans to the governments of Argentina and Chile to help finance the building of the new ‘Agua Negra’ road tunnel that will link the two countries. The US$1.5bn project, which will extend for 14km and cut through the Andes mountains and join Chile’s northern region of Coquimbo to Argentina’s northern province of San Juan, is billed as the largest-ever road tunnel project in Latin America. The ultimate aim of the project is to improve road links between Brazil’s southern Atlantic port city of Porto Alegre and Pacific ports in northern Chile to create a new ‘bi-oceanic corridor’. A BID statement said that the bank has approved a US$130m loan to the Argentina and a US$150m loan to Chile to finance the tunnel’s first building stages.  

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