Suriname to improve air transport with $US25 million program from IBD
Key Points(5)
- The <a href="https://www.iadb.org/en">Inter-American Development Bank</a> (IDB) has approved a US$25 million program to improve Suriname's air transportation sector.
- This initiative focuses on enhancing safety, connectivity, and infrastructure within the sector.
- The approval was granted by the IDB's Board of Executive Directors and will provide funding for critical upgrades to ensure Suriname meets international civil aviation safety and security standards.
- This project is expected to strengthen Suriname’s air transport capabilities, fostering economic growth, improving regional integration, and supporting tourism.
- The US$25 million program approved by the Inter-American Development Bank (IDB) will benefit approximately 465,000 air passengers annually, including residents of isolated communities such as those in Amerindian and Maroon regions.
The Inter-American Development Bank (IDB) has approved a US$25 million program to improve Suriname's air transportation sector. This initiative focuses on enhancing safety, connectivity, and infrastructure within the sector. The approval was granted by the IDB's Board of Executive Directors and will provide funding for critical upgrades to ensure Suriname meets international civil aviation safety and security standards.
This project is expected to strengthen Suriname’s air transport capabilities, fostering economic growth, improving regional integration, and supporting tourism.
The US$25 million program approved by the Inter-American Development Bank (IDB) will benefit approximately 465,000 air passengers annually, including residents of isolated communities such as those in Amerindian and Maroon regions. These communities will gain more reliable access to air travel, improving both passenger and cargo transport.
The program is designed to enhance operational safety and reduce the cost and time associated with transportation, making travel and delivery more efficient. A notable beneficiary of these improvements will be Kwamalasamutu, an Amerindian village with 1,308 residents. This community will experience improved access to essential services like healthcare and education, as well as greater overall connectivity, which will support their social and economic development.
In addition to directly benefiting local populations, the program will enhance the country's aviation infrastructure, ensuring broader, long-term benefits for Suriname's air transport sector and its regional integration.
The operation will focus on key interventions at Paramaribo's international airport, including upgrades to the Zorg en Hoop domestic hub's landside facilities and navigation equipment. A pilot project will also modernize the Kwamalasamutu aerodrome to facilitate all-weather operations.
The program will also address the strengthening of the country's civil aviation system, including the Civil Aviation Safety Authority’s regulatory capacity, the creation of an independent Air Accident Investigation Authority, and the introduction of a new, international standard-based fee structure and collection mechanism.
The US$25 million IDB loan comes with favorable financial terms, including a 23.5-year repayment period and a 7-year grace period. The loan's interest rate is tied to the Secured Overnight Financing Rate (SOFR), which is a widely used benchmark for interest rates.
