A US$90mn project backed by the Spanish government to improve water and sanitation in Peru’s rural areas is scheduled to be approved in February 2010, an Inter-American Development Bank (IDB) spokesperson said.
The Spanish government will donate US$72mn, which will be administered by IDB as part of the two entities’ partnership to tackle water and sanitation problems affecting Latin America’s poorest communities, the official said.
The funding will support a five-year program to improve access to basic services for some 500,000 people in rural areas of Peru.
The donation will come from the Spanish government’s cooperation fund for water and sanitation in Latin America and the Caribbean, which was created in 2008 by Prime Minister José Luis Rodríguez Zapatero.
IDB and Spain signed an agreement in July 2009 to jointly finance and execute projects with a portion of the Spanish fund’s grants, taking advantage of IDB’s extensive portfolio of water and sanitation projects, as well as its network of sector specialists in the region.
Source: Catherine Setterfield, BNamericas.com [subscription site], 22 Dec 2009