The European Investment Bank has announced a new loan for USD 100 million for the modernization of water supply infrastructure and wastewater treatment and sanitation facilities in Ecuador.
This financing will be coordinated in conjunction with the Development Bank of Ecuador, within the framework of the national program “Water and Sanitation for All”; This investment is expected to contribute to the partial construction of sewage networks, wastewater treatment plants and rainwater collection networks in coastal areas, reducing the dumping of plastics into the Ocean within the Clean Oceans initiative.
The water supply and sanitation project in Ecuador will benefit from the so-called FELICITY program (Energy Financing for Investment with Low Carbon Emissions – City Advisory Service); The investments will focus above all on improving the quality of water and sanitation services, as well as on providing such services to households that are not currently connected to the drinking water supply and sewerage networks, that is, which is expected to benefit more than 500,000 Ecuadorians.
The Vice Minister of Finance Bernardo Orellana and the Ambassador of the European Union in Ecuador, Charles Michel Gers, together with authorities and delegates of the Development Bank of Ecuador and the European Financing Bank signed this historic morning on Friday, January 21, 2022 agreement.
The European entity that has already invested some 8,000 million euros for investments outside the European Union and trusts that, together with Ecuador, progress can be made with the development and implementation of more bilateral cooperation projects like this one.