Decisive support for Jaime Roldos project in Ecuador

Two important loans, for US$74.3 million, were granted to the Republic of Ecuador after the agreements were signed in the CAF headquarters in Caracas by CAF President & CEO Enrique García, and the Ecuadorian ambassador in Venezuela, Julio Correa Paredes.

The two credits are part of the CAF mission to finance the sustainable development and integration of its member states (Bolivia, Colombia, Ecuador, Peru and Venezuela), especially physical infrastructure development in the areas of roads, energy and telecommunications. The institution’s shareholders also include extraregional countries: Brazil, Chile, Mexico Trinidad and Tobago, and Jamaica’s entry has been announced for the near future.

One of the loans, for US$19 million, will be invested in the Daule-Peripa/ La Esperanza transfer project, which will solve the deficit of water for human consumption, irrigation, agroindustrial and shrimp development in the central part of Manabí province, by constructing a tunnel to take water from the Daule-Peripa reservoir to La Esperanza dam. The work will be executed by the Marabí Rehabilitation Center (CRM) which has been managing similar programs in this province for 30 years.

The other loan, for US$55.3 million, will finance the second stage of the Santa Elena Water Plan Project (PHASE) whose purpose is to build the partial transfer of the waters of the Daule River to the Santa Elena Peninsula. The plan works include installation of the pumping station in the Chongón dam, construction of the 19-km long “Sub y Baja” canal, construction of the tail reservoir of the Cerecita-Playas Canal, repair of the Azúcar reservoir and execution of several environmental protection works. The project, to be executed by CEDEGE, will have a high economic impact in the country because it will bring into cultivation 43,000 hectares suitable for agricultural development of exportable products, supply drinking water to an estimated population of 750,000 in 2030 in the Santa Elena peninsula and other important sectors of Guayaquil, at the same time as facilitating industrial, fisheries and tourism activities in the area.

In addition, a loan for US$76.5 million loan was granted last year to finance construction of the Daule-Peripa Hydroelectric Plant which will generate 130 MW in the first stage. These operations clearly show the Corporation’s interest in supporting the best use of the potential of the Jaime Roldós Aguilera Multipurpose Project.