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The European Investment Bank (EIB) has announced that it will provide a loan worth $60m for the drinking water and sanitation network development in Ecuador’s Portoviejo region.
The loan amount will be provided to the Decentralised Autonomous Municipal Government of the Canton Portoviejo (GAD of Portoviejo).
It will partly finance the construction and rehabilitation of water supply, wastewater and storm water networks in the province.
The loan will also allow the construction of sewer networks, wastewater treatment plants and stormwater networks, which will contribute to the Clean Oceans Initiative implementation.
Additionally, the upgrade of the water supply and sewerage systems is expected to provide energy savings, decrease water losses in networks and improve the wastewater treatment operations.
Inter-American Development Bank (IADB), Spain’s Fund for the Promotion of Development (FONPRODE) managed by the Spanish Agency for International Development and Cooperation (AECID), and EU’s Latin America Investment Facility (LAIF) will co-finance the operation.
EIB vice-president Ricardo Mourinho Félix said: “Clean water and sanitation are essential to boost socio and economic growth, and to protect human health during infectious disease outbreaks such as the Covid-19.
“As the largest lender to the water sector globally, the EIB is pleased to be financing and providing its expertise to help the Portoviejo government rehabilitate the region’s drinking water distribution network by improving access to the service, efficiency, quality and resilience to mitigate the adverse effects of climate change.
“This project builds on our strong track record of supporting high-impact investment in Ecuador and across Latin America.” |
