CAF to Further Latin American Water and Sanitation Project Design
The CAF Board of Directors has approved the second phase of the Water Sector Pre-Investment Program (CAF-PPSA II), which aims to improve the quality of future studies, as well as reduce project cycle durations through the financing of all pre-investment actions required to promote their investment and execution phase.
Due to the high volume of requests from institutions across its 19 member countries, CAF—development bank of Latin America—is launching the second phase of the Water Sector Pre-Investment Program (CAF-PPSA II), which aims to continue upgrading access, expansion and quality of water and sanitation, irrigation and flood control services in the region, thus promoting the availability of cutting-edge technologies, new resilient building materials and best practices in implementation of programs and projects, among others.
Out of the multitude of requests, eight projects distributed across six countries (one in Bolivia, two in Brazil, two in Ecuador, one in Panama, one in Paraguay and one in Trinidad and Tobago), have been prioritized for the first phase of CAF-PPSA, allotting the totality of the $5 million available to improving the quality of life for as many as 1.9 million people in the coming years.
The CAF-PPSA II program, approved by the CAF Board of Directors, will also allocate USD 5 million toward accelerating the project cycle of any of the sector’s planning processes in the countries of the region, holding quality as the main priority in order to warrant that future infrastructure projects are aligned with CAF’s 2019-2022 Water Strategy.
“We offer our 50-year experience to all our member countries in our efforts to continue supporting all actions and pre-investment activities they require to prioritize water projects, as well as fully complete their preparation stage and studies compliant with quality standards that allow them to kick off their investment and execution phases in a timely and sustainable manner,” CAF executive president Luis Carranza said.
This second phase will intensify CAF’s articulating and catalytic role in attracting funds from development banks and other international financial institutions in order to expand the pre-investment program and complement government funds.
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