CAF contributes to the environmental clean-up of Guayaquil

To support the environmental clean-up of Guayaquil, Ecuador’s main port, the Andean Development Corporation today signed a loan agreement with the city government for US$13 million to finance the Estero Salado Recovery Program.

The agreement was signed by the Ecuadorian ambassador in Caracas, Marcelo Fernández de Córdova, and CAF executive vice president, Luis Enrique Berrizbeitia, who stressed the importance of the project from the point of view of environmental conservation.

One of CAF’s objectives is to contribute to projects with a high content of environmental sustainability, which improve the quality of life of communities, and this program corresponds fully to these objectives, Berrizbeitia said.

Estero Salado is an arm of the sea that penetrates into the city, which is used for discharge of untreated domestic and industrial sewage, and as a site for decomposition of solid waste, as well as being an expanding area of low-income housing.

The recovery program includes the execution of works and maintenance and education activities. Phase I financed with CAF funds has three components: construction of sanitary collectors, emergency measures and complementary educational programs for the local population.

In addition to the loan, this year the CAF granted US$57 million to Guayaquil City Government for execution of the third stage of the city’s road plan, a project the Corporation has backed since 1997.

Because the City Government has proved to be an efficient manager of its finances, the loans are granted directly to the city, with the backing of the government of Ecuador.