CAF approves US$25 million for Ecuador

CAF confirms its support for the Republic of Ecuador with this new US$25 million loan to finance the Aqueduct Master Plan for Portoviejo, capital of Manabí province. The Ecuadorian government has given execution of the Plan maximum priority.

September 06, 2005

The Andean Development Corporation (CAF) approved an operation for US$25 million to finance the execution of the Master Plan for the Aqueduct of the city of Portoviejo.

Total investments under the Aqueduct Master Plan are US$35.7 million, of which US$31.4 million relates to infrastructure works. An additional US$4 million will finance a program to strengthen the management capacity of the municipality, and the operating company EMAPAP. The infrastructure works include construction of the storage system and expansion and renewal of the city's drinking water distribution system.

CAF President & CEO Enrique Garcia said that the new loan supported the Ecuadorian government and Portoviejo municipality in their objective of improving the conditions of coverage and quality of the potable water service for 250,000 inhabitants of the city, and strengthening the institutional mechanisms that guarantee the efficient, equitable and sustainable management of the services.

The project will provide a series of additional benefits by stimulating the decentralization process, improving the continuity of the service in marginal areas of the city, improving health conditions and raising productivity in the region.

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