The Central American Bank for Economic Integration (CABEI) and the OPEC Fund for International Development are currently conducting a joint technical mission in El Salvador aimed at strengthening the Surf City Phase II infrastructure program through strategic co-financing and resource optimization.
This high-level visit, which began yesterday and will conclude on Thursday, includes participation from technical experts of El Salvador’s Ministry of Public Works (MOP). The objective of the mission is to assess the program’s technical, financial, social, and environmental components, with the potential of formalizing a strategic alliance that would enhance the project’s financial and operational sustainability.
Surf City Phase II currently has $65 million in financing from CABEI. The involvement of the OPEC Fund is expected to further reinforce the initiative by contributing to its long-term viability and transparency. According to CABEI, the partnership would “facilitate the operation’s viability, optimize resources, and promote transparency and accountability.”
The technical visit follows the recent signing of a Memorandum of Understanding (MOU) between CABEI and the OPEC Fund, which outlines mechanisms for co-financing and resource mobilization in support of strategic development projects across the region.
Once completed, Surf City Phase II will directly benefit more than 69,000 people by expanding 8.2 kilometers of the Coastal Highway from two to four lanes, constructing a new bridge over the Huiza River in Melara canton, and installing two wastewater treatment plants to serve the beaches of El Majahual, San Blas, El Cocal, Conchalío, San Diego, and Cangrejera.
The initiative is part of El Salvador’s broader push to improve coastal infrastructure, enhance tourism connectivity, and support sustainable development along the Pacific corridor.