Findeter extends loan for Bucaramanga reservoir project to US$87mn

Wednesday, May 30, 2012

Colombian national development agency Findeter has extended its loan for Bucaramanga state-run water utility Acueducto Metropolitano de Bucaramanga's (AMB) US$215mn reservoir project.

The loan is now worth 158bn pesos (US$86.7mn), having been extended by 40bn pesos. Findeter also increased the term of the loan to 20 years from 15 years, with a three-year grace period.

The project aims to secure potable water supply to Santander department's Bucaramanga, Floridablanca and Girón districts for the next 25 years.

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Work includes the construction of a 17.6Mm3 reservoir that will provide an additional 1,000l/s to the city water system and a potable water treatment plant.

Funding for the initiative is also coming from the national, Santander and Bucaramanga governments, which are providing a combined 25% of the project's total cost.