IDB Upgrades Uruguay's Logistics Hub

    The Inter-American Development Bank will loan USD40 million to rehabilitate the facilities of Uruguay’s Port of Montevideo. The initiative aims to improve the port’s efficiency as well as decrease maritime and river transportation costs. Half of the port’s operations involve the transshipment of refrigerated containers from neighboring countries. Uruguay’s National Ports Authority, an autonomous agency of the Ministry of Transportation of Uruguay, will manage the project. (“IDB will help Uruguay modernize the Port of Montevideo” - Inter-American Development Bank, Oct. 16, 2008)

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