CAF announces $4 billion water project financing for Latam, Caribbean

"Depending on the country and its needs we are going to see which are the projects that we're going to finance," Asinelli said ahead of the announcement, made on the sidelines of the United Nations Water Conference. He said part of the importance of investment in water and sanitation is it affects policies in other sectors including health and education.


Reuters | Updated: 23-03-2023 19:43 IST | Created: 23-03-2023 19:39 IST
CAF announces $4 billion water project financing for Latam, Caribbean
Representative image Image Credit: Pexels

Latin American development bank CAF said on Thursday it will finance water infrastructure projects across Latam and the Caribbean for $4 billion through 2026, about as much as it did over the last decade.

The projects fit into the lender's objective to be Latin America's 'green bank' of economic reactivation, CAF's corporate vice-president of strategic programming Christian Asinelli told Reuters. "Depending on the country and its needs we are going to see which are the projects that we're going to finance," Asinelli said ahead of the announcement, made on the sidelines of the United Nations Water Conference.

He said part of the importance of investment in water and sanitation is it affects policies in other sectors including health and education. "We know that when you invest in safe water, this obviously has a huge impact on health issues, but also on the environment as it reduces pollution," said Asinelli.

The projects will focus on flood control, drought management, equitable access and the reduction of water pollution and local solid waste, CAF said in a statement. CAF-financed projects in Latin America and the Caribbean have over the past five years significantly increased the water and sewage pipeline networks in the region and built over 50 plants for both drinking and wastewater treatment according to CAF data.

 

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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