Ecuador: loan agreements to finance works in the Quito Metropolitan District.

(Quito, February 24, 2006). Enrique Garcia, CAF president & CEO, delivered two loan agreements to Quito Metropolitan District Mayor Paco Moncayo for financing roads, sewage and drinking water works in the city.

The first loan for US$41 million, to be executed through Empresa Metropolitana de Obras públicas (EMOP- Q), finances the Road Program Phase II, whose objective is to implement the Marginal Urban Barrios Access Program. This program will improve access and incorporate these marginal areas into the territorial space of the Quito Metropolitan District following the urban-spatial transformations of the expansionary process of peripheral urbanization. The loan also covers execution of the supplementary works in the transport corridors in Avenida Simón Bolívar and Center North.

The second loan for US$25 million, to be executed by Empresa Metropolitana de Alcantarillado y Agua Potable (EMAAP-Q), will finance 11 priority waterworks and sewage projects for Phase I of the Integrated Drinking Water Master Plan in an effort to provide quality services to the residents of the urban and peripheral areas of the Quito Metropolitan District.

CAF President & CEO Enrique García said that the Corporation was an ally of all the countries of the region, supporting them in good and bad times. CAF confirms its commitment to continue benefiting the Ecuadorian capital and the country with infrastructure investment programs that have a positive impact on the economic and social development of Ecuador.