Over US$1 million in grants for integrated development projects in Ecuador

(Quito, February 25, 2011).- During his visit to the Ecuadorian capital, Enrique García, president & CEO of CAF- Latin American development bank - signed seven agreements totaling over US$1 million in grants to promote high-impact projects in the country, involving value generation, social inclusion, governance and social development, among others.

“CAF finances specialized operations to supplement existing technical capacity in shareholder countries in an effort to stimulate innovative programs which contribute to sustainable development and regional integration," García said

"Allocation of funds is an important tool for supporting nations and facilitating investment projects, favoring the competitiveness of productive chains, building social capital and improving the management capacity of institutions," he added.

The first operation relates to the Project for Identification, Creation and Strengthening of Good Governance Practices in the Ecuadorian National Symphony Orchestra (OSNE), the leading representative of academic music in the country. The funds will be used for the Institutional Strengthening Plan providing principles and guidelines for implementation of good corporate governance practices, with the objective of modernizing the orchestra and promoting its excellence. The operation will equip OSNE with policies, strategies, tools and actions for governance which regulate the operation of its executive and administrative bodies.

CAF, in partnership with the Spanish Agency for International Development Cooperation (AECI), is implementing a training program for young people in three Workshop Schools (Cuenca, Quito and San Andreas) covering traditional occupations related to the conservation, restoration and rehabilitation of cultural heritage. The program is an instrument for generating social development in the context of the key objective of combating poverty.

In this respect, two technical cooperation agreements were signed for the workshop schools in Cuenca and Quito. The funds will be used to support their operations for one year, along with design and implementation of a sustainability component to generate income.

The fourth technical cooperation agreement was signed with Canton Mejía municipality to help prepare the Master Plan for Drinking Water and Sewage, and Pollution Prevention, and set up a municipal water supply and sewerage utility (Empresa de Agua Potable y Alcantarillado). Mejía Canton is located in the southeast of Pichincha province and has a population of about 63,000.

Two more technical cooperation agreements were signed with Escuela Superior Politécnica del Litoral (ESPOL) to implement the fifth Leadership for Transformation Program 2011. Since 2007, CAF and ESPOL have joined forces to develop this program whose objective is to identify potential leaders in the region and lay the groundwork for a new leadership style, enriching their value systems and equipping them with the tools they need to take up their responsibilities based on ethics and a deep civic and democratic sense.

The sixth technical cooperation agreement relates to the Education Skills Program (PROCE) which aims to improve teaching skills in primary education by providing practical tools and methods to improve the teaching of the oral-written language and mathematics. After beginning in Bolivia in 2010 as a pilot for replication in other countries, the program will be implemented in Ecuador through ESPOL for 200 teachers from rural and urban schools across the country.

The seventh cooperation agreement was signed with the Quito Metropolitan District. The funds will finance the Relocation Plan for High Risk Families, benefiting over 600 families living in areas susceptible to natural hazards.