Korea Eximbank and CAF to promote smart mobility solutions for Cuenca

The project “Strengthening Urban Mobility Management and Monitoring through a Data Observatory in Cuenca, Ecuador” is the new project selected by the Ministry of Economy and Finance (MoEF) of Korea, within the framework of the Knowledge Sharing Program (KSP), which seeks to take advantage of Korea's successful development experiences, known as the “Korean Model”, to support other countries in their development efforts.

This initiative joins five others that have been developed in Colombia, Panama, Paraguay and Peru, which are part of the institutional cooperation agreement between Korea Eximbank - KSP and CAF - Development Bank of Latin America and the Caribbean.

The objective of the project is to establish a framework for the creation and maintenance of a data observatory with a unified and standardized mobility database for the city of Cuenca, which responds to the growing motorized mobility that is affecting the air quality of the emblematic cultural heritage city.

The project also seeks to leverage the technology-based and big data capabilities of the city of Cuenca to contribute to the creation of smart mobility solutions, formulate policy recommendations to improve public transportation management in the city based on robust data analysis, and propose mechanisms to strengthen the capacities of public officials and staff in relation to data management and the application of technology in transportation.

CAF's experience and capacity to help governments in the region design, manage and monitor urban systems aligned with sustainable development goals will be an important contribution to this project.

In addition, KSP's experience in knowledge-sharing networking and Korea's know-how in technology implementation will be key to enhancing Cuenca's approach to a smarter and more sustainable transportation system.