Finance & Funding

JCB has now set up a finance programme for customers in South Africa. The firm has formed a strategic alliance with ABSA Bank, acting through its Vehicle & Asset Finance division (ABSA) under the trading name of JCB Finance in South Africa. The new JCB Finance facility will be available to all of JCB’s dealers in South Africa. David Dolbear, general manager Financial Solutions Africa at JCB said, “The introduction of JCB Finance to the South African market will help us to deliver innovative financial so

The Peruvian Ministry of Transport and Communication has confirmed that by July nearly 20,000km of the Red Vial Nacional national highway network will be paved. The figure means nearly 87% of roads in Peru will be paved. In 2011, around 12,500km of the network was paved, according to a report by America Economia. The ministry also highlighted that regions such as Amazonas and Ayacucho, will have doubled the number of paved kilometres since 2011. Amazonas will rise from 36% in 2011 to 72% this year, wh

The Nepalese Government is planning to spend a healthy US$ 1.3billion on developing major infrastructure projects. New roads and highways as well as energy projects are being prioritised. Funding will be provided jointly through the World Bank and the US Government body the Millennium Challenge Cooperation (MCC), as well as the Government of Nepal. The Kathmandu-Tarai Fast Track project has been suggested as a top priority. One-third of the funding will come from the World Bank, MCC and government while the

The Philippines federal government has earmarked US$138 million for repairing provincial roads in 73 of the country’s 81 provinces. The Department of Budget and Management allocated the money under the KALSADA programme that devolves responsibility for road repair and maintain of provincial roads, alongside the planning of other local infrastructure, to local governments. Local governments are also expected to come up with their own Provincial Road Network Development Plans. Public Works Secretary

Bolivian President Evo Morales has said the government will spend US$1.9 billion on national highways in 2016. Nearly $12 million will be spent in expanding the Rio Seco-San Roque road in El Alto from one to 10 lanes. Morales requested that the El Alto municipal government assist in the project development by providing sewage and lighting works, as well as providing better security for roads that are often off limits because of their use by smugglers, according to a report to El Deber.