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The Inter-American Development Bank (IDB) has approved a US$60mn loan to Uruguay to help expand sewage and rainwater drainage systems in capital Montevideo.
The funds represent the second stage of a line of credit approved by the multilateral bank in December 2006 to help fund Montevideo's fifth urban sanitation program which, in addition to expanding the city's sewage grid, aims to clean up the bay on which the city lies and boost efficiency at city hall's sanitation unit.
The city sanitation program will finance sewage and sanitation work in the city's Barrio Manga district, via construction of 43.6km in sewage lines and collectors, 3.8km of pressure pipes, a pumping station, 6.4km of micro and macro-drainage equipment and a 4,000m3 overflow control structure.
All in all, the program at Barrio Manga will benefit some 20,000 people, according to a press release from the IDB.
Additional work includes completing a liquid waste disposal system in the west of the city that will help improve water quality in the Bay of Montevideo and nearby beaches.
The US$60mn loan will be over 25 years with a 5.5-year grace period and an interest rate pegged to the Libor rate. The local contribution amounts to US$9.8mn.