Approval for investments in urban drainage

(Caracas, December 17, 2007).- To support the efforts of Fortaleza municipality to improve the quality of life of its population, the Andean Development Corporation approved a loan for US$45.1 million to implement the Municipal Urban Drainage Program.

CAF President & CEO Enrique García said, "The Corporation gives priority to implementation of national, regional and local projects which improve the living conditions of the population of the region. In this program, actions will cover optimization of the urban stormwater drainage system, environmental recovery and preservation, and clean-up of the river basins of this important Brazilian municipality."

The program, which will be executed by Fortaleza municipality, is integrated by projects focused on expansion, recovery and clean-up of the municipal urban stormwater drainage network; execution of a plan to improve the urban road system including its infrastructure; a plan to improve solid waste collection; and a project aimed at cleaning and developing three of the lakes in the municipality. The program also includes a component for expropriation, compensation and resettling of families located in flood risk areas.

The total cost is US$90.2 million, of which 50% will be covered by the CAF loan and 50% by local contributions from the municipality.