Ecuador to Receive $300m CAF Booster

Andean Development Corporation (CAF) will provide a $300m loan to Ecuador to improve potable water services and solid waste management in the Andean country.

The loan will be used to finance the Promadec II project undertaken by Ecuador, which seeks to improve quality and efficiency of basic water, wastewater collection in rural areas.

The project will be developed by the Ecuador Government and executed by the State Bank in coordination with the Ministry of Urban Development and Housing.

The project will benefit about 2.2 million people and will cost $360m, of which CAF will provide 300m, according to The Wall Street Journal.