EAAB requests US$160mn loans for water repairs

- Tuesday, January 11, 2011

EAAB requests US$160mn loans for water repairs

Colombian capital Bogota's state-owned water and sewerage utility EAAB has asked the Bogota government for permission to secure 300bn pesos (US$160mn) in loans for repairs to the city's deteriorating sewerage and potable water systems.

The utility is planning projects to curb the effects of climate change, such as extreme flooding, according to an EAAB filing to securities regulator Superfinanciera.

The finances will also be directed at drainage projects that will allow the city to better take on the heavy rains and storms that continue to plague the country.

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The city cannot afford to postpone projects to improve and repair sewer and drainage networks, according to EAAB.