CAF will allocate US$ 4 billion to finance water security projects in Latin America

CAF will allocate US$ 4 billion to finance water security projects in Latin America

The Andean Development Corporation (CAF-Development Bank of Latin America) announced this Friday that it will “mobilize financial resources to promote water security and control floods and droughts” in Latin America and the Caribbean, as well as to “guarantee the safe and equitable access to water and sanitation”.

Through a statement, the multilateral organization informed that these funds will also be used to “ensure the reduction of contamination” water and solid urban waste in the countries of the region.

CAF made these announcements while participating in the 2023 UN Conference on Water, which concluded this Friday in New York after three days of debates on the problem of water as a “decisive factor for the objectives of sustainable development, health and prosperity of people and the planet.

CAF, when speaking at the conference, exposed its financing projects linked to inequalities in access to water and at that point announced that it “has ordered an investment of 4 billion dollars” aimed at financing initiatives “that promote integrated management of water resources and an improvement in water governance at the regional level, until 2026”.

The objective of this financing, the entity expanded, is “to generate healthier, more inclusive and climate resilient communities”, as well as to contribute to the “reduction of existing gaps” in access to water, in line with the goals of the United Nations 2030 Agenda for Sustainable Development.

In parallel, the entity plans to present “its 2023-2026 Water Strategy, which establishes the lines of action for water security, and plans to continue accelerating sustainable and quality initiatives through the Water Project Preparation Program “.

The work of the CAF-Development Bank of Latin America regarding this problem aims to generate “synergy with international financial institutions and relevant global entities” so that “greater investment and pre-investment resources of other agencies and international donors”, among which there is a commitment to a greater participation of the private sector.

CAF’s Corporate Vice President of Strategic Programming, Argentine Christian Asinelli, one of the participants in the 2023 United Nations Water Conference, warned of the need to focus public policies in Latin America and the Caribbean towards the search for “universal and equitable access to drinking water”.

For Asinelli, this is a key objective “to safeguard the common home”, in reference to the planet itself.

Within this framework, he stated that it is essential to “change the consumption models and patterns (of water use) that we carry out in daily life to stimulate the efficient use of water resources.”

Finally, from CAF they pointed out that the initiatives regarding access to water are in line with a general goal of the multilateral organization of the region, which proposes “to become the green bank of Latin America and the Caribbean”, for which will allocate “a financing of 25 billion dollars in green operations”.

This figure will be used to fund initiatives that help increase “climate resilience, the preservation of biodiversity, the restoration of natural ecosystems and the promotion of the energy transition in the region,” the institution finally detailed.

Currently, more than a quarter of the world’s population, which is equivalent to 2 billion people, lacks access to safe water, while almost half of the planet’s population (3.6 billion) lives without sewage and sewage treatment. , it was warned from the agency.

Regarding the statistics of Latin America and the Caribbean, 161 million people live without access to safe drinking water, while 431 million lack access to sanitation (sewers), they described.

Source: Ambito

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