Bede to Fund Ecuador Water Projects

Bede, the state bank of Ecuador, has signed an agreement with Guayaquil water and sewerage company Ecapag to fund $17m for the construction of drainage systems in the Tarqui district.

Ecapag will use the funds to build storm drainage systems in five urban areas within the district.

The loan is part of the state bank’s $1bn funding programme to municipal and departmental governments over the last three years.

The Ecuadorian Government will repay 57.7% or $9.9m of the loan while Guayaquil will repay the remaining amount, according to waterworld.com.