In last five years, US$575 million for urban projects in Guayaquil

CAF Executive President Enrique García visited the city of Guayaquil on June 9 and 10, where he received recognition from the city authorities for the constant financial support during the execution of the urban regeneration process. The City Government declared García guest of honor and presented him with a medal of civic recognition and testimony of institutional appreciation on behalf of the people of Guayaquil.

In the 1998-2002 period, the CAF approved a total of US$575 million for Guayaquil City, which has been used for road infrastructure, energy and telecommunications, potable water and sewage systems. This amount represents 29% of total approvals for Ecuador.

The main projects financed as part of the Guayaquil urban regeneration process are the I-II-III road plan, which includes the building of two tunnels and the expansion of several routes; expansion of the Rafael Mendoza bridge; decontamination of Estero Salado; and the public transport restructuring plan.

At the ceremony, in the Olmedo Room of Guayaquil City Hall, Garcia thanked the city for the honor and said "there is nothing more satisfactory than seeing that the efforts made are having positive results. The strategic alliance formed by the CAF and the Guayaquil City Government is important. What we have achieved in this city is enviable in the South American context. Guayaquil has an integrated strategy, which means that it is the only city, and I hope it will be an example, in which support has not been one-off but part of a long-term strategy."

Guayaquil City Mayor Jaime Nebot said that "the CAF is a vital and essential part of the city´s social development. An important part of the new Guayaquil, of the present and future, is a reality thanks to the CAF." García confirmed the commitment to continue supporting the urban transformation process that Guayaquil is putting through.