The Bolivarian Republic of Venezuela will improve its management of municipal solid waste at the national level with a program partially funded with a $140 million loan from the Inter-American Development Bank (IDB).
The project will seek to reduce and prevent the environmental and health impacts of the improper management of waste by strengthening institutions involved in providing these services. It will finance the training of technical personnel in these institutions and the construction of basic infrastructure for the transfer and disposal of municipal solid waste, in order to replace existing open-air dumps, among other activities.
The implementation of the project is expected to ensure that in five years about 1100 tons of solid waste per day that are now disposed in open dumps will instead be deposited in sanitary landfills with environmental safeguards that will be built with funds from the program.
The project is also expected to proportion of that solid waste that will be separated for recycling purposes will increase to at least 20 percent by the conclusion of the project.
The project plans to finance an estimated 5 to 8 sub-projects from a total of 25 already identified by the Ministry of the Popular Power for the Environment as part of an investment program created to meet the increasing demands of the sector.
The IDB loan has a 25-year term including a grace period of five years, and a variable interest rate based on the Libor. Venezuela will provide $60 million in local counterpart funds.
- Paul Constance