The Inter-American Development Bank (IDB) and the Spanish government’s cooperation fund for water and sanitation in Latin America and the Caribbean (FCAS) will contribute US$52mn to a program to provide potable water and sanitation services to rural and indigenous communities in Paraguay.
Paraguayan finance minister Dionisio Borda and IDB president Luis Alberto Moreno signed the funding agreement at IDB’s 51st annual meeting, held this week in Cancún, Mexico.
The funding will consist of a US$12mn loan from IDB and a US$40mn grant from the Spanish government, IDB said in a press release.
Proposed in 2007 by Spanish Prime Minister José Luis Rodríguez Zapatero, FCAS aims to help countries in Latin America and the Caribbean meet the UN’s 7th Millennium Development Goals, which involve halving the population without access to safe drinking water and basic sanitation.
The fund is currently supporting potable water and sanitation projects worth US$842mn throughout the region.
Source: BNamericas.com [subscription site], 23 Mar 2010