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CAF earmarks $4 billion water project financing for Latin America & Caribbean

  • CAF earmarks $4 billion water project financing for Latin America & Caribbean

CAF, the development bank in Latin America, announced on Thursday a $4 billion plan to finance water infrastructure projects across Latin America and the Caribbean through 2026, approximately as much as it did over the last decade, reports Reuters.

Corporate Vice President of Strategic Programming of CAF, Christian Asinelli, spoke with Reuters and said that this ambitious financing fits into the bank’s objective to be Latin America’s ‘green bank’ of economic reactivation.

The announcement was made on the sidelines of the UN 2023 Water Conference.

“Depending on the country and its needs we are going to see which are the projects that we’re going to finance,” said Asinelli.

He added: “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.”

In a statement, CAF highlighted that the projects will focus on flood control, drought management, equitable access and the reduction of water pollution and local solid waste.

CAF promotes coverage of potable water and sanitation, management and watershed protection, agricultural development and irrigation, drainage and flood control, through studies, financing and investment programs in order to improve the quality of life population according to the particular needs of each country.

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