15/04/2011 (Agence Europe) - Bank involved in funding of motorway extension in Jamaica. A groundbreaking ceremony was held on Friday 15 April to mark the start of construction for a 10 kilometre extension to Jamaica's only toll motorway. This will reduce traffic congestion on the island's main route west of Kingston. The four-lane motorway extension between Sandy Bay and Four Paths is expected to reduce travel times, road accidents and emissions and is part of the Jamaican government's flagship “Highway 2000” initiative. The transport link will stimulate economic growth on the island and construction will create significant direct and indirect employment, says the European Investment Bank (EIB) which is contributing US$53.6 million to co-finance the project. The total cost is US$285 million. Various international finance institutions, in addition to the EIB, will be involved in funding the project. (O.L./transl.rt)