Venezuela Seeks Funds for State-Owned Water Company

The Venezuela Government hopes to secure a $136m external loan this year to fund the operation of state-owned water company Hidroven.

The government is seeking funds to cover the operating costs and investment plans of the Venezuelan water utility.

The funds will also cover Hidroven’s maintenance and expansion of potable water systems and sewage networks.

Part of the proposed loan will be used to finance wastewater treatment and rainwater drainage projects, which will help reduce public spending in cleaning up waterways and flood management.

Venezuelan debt law allows the government to take loans from the private and multilateral banking sectors to help finance public initiatives, according to bnamericas.com.