CAF, Development Bank of Latin America and the Caribbean, approved financing for US$200 million to build the Aqueduct for Social and Productive Development in the province of Formosa. The project will ensure the supply of raw water for drinking water treatment and irrigation in the northeastern region of the province, thus helping to promote the sustainable development of agricultural production, guaranteeing greater water security and reliable access to drinking water, according to a CAF press release.
The project includes the construction of a water intake on the Paraguay River and an aqueduct with pumping stations, distribution tanks and diversions to convey water to distribution points for productive use and human consumption.
The initiative will directly benefit 48,000 inhabitants and will supply water for productive purposes to 40,000 hectares, corresponding to approximately 2,000 productive units. The aqueduct will also provide drinking water for the different localities located along its route and will favor the productive matrix through the permanent availability of the water resource. It will also generate an engine of development and cohesion in the territory and will increase Formosa's resilience and capacity to adapt to the adverse effects of climate change.
This is a project that contemplates 100% green financing and, therefore, is fully aligned with our commitments both to become the green bank of Latin America and the Caribbean, and to promote water security and climate change mitigation and adaptation throughout the continent.
