CAF to Fund Brazilian Drainage Project

Latin American development bank CAF has agreed to fund $45m to implement the Municipal Urban Drainage Program in the Brazilian state of Ceara.

The fund will be used to optimise the state’s urban stormwater drainage system, its environmental recovery and preservation, reclaim the river basins in state capital Fortaleza, expand the urban stormwater drainage network and clean up three lakes.

The project will cost $90.2m, out of which 50% will come from the CAF loan and the remainder from local contributions.