The Latin American Investment Facility (LAIF) of the European Union finances a joint program that reinforces the strategic alliance established by the IDB and the Spanish Development Cooperation Agency (AECID, for its Spanish initials). This Program aims to boost the water and sanitation sector in the region by strengthening Integrated Water Resource Management (IWRM) and Climate Change Adaptation (CCA).
HOW DOES THE PROGRAM WORK ?
From a commitment shared by the European Union, AECID and the IDB, the program “promoting climate change adaptation and integrated water resources management investment for the Water and Sanitation sector in Latin America in the framework of the Cooperation Fund for Water and Sanitation” is a program financed through the European Commission’s Latin America Investment Facility that tackles regional challenges by:
Becoming a catalyst for new investment opportunities that may foster universal coverage in the region.
Developing an integrated approach leading to the promotion and escalation of actions, methodologies, strategies and policies with an across-the-board effect throughout the region.
Promoting a more effective presence of the components of the Integrated Water Resources Management and Climate Change Adaptation in the Fund for Water and Sanitation operations in order to attain a greater impact on participating countries.
HOW DOES THE PROGRAM OPERATE ?
The program contemplates a European Union and AECID grant of 15.3 million euros, of which the IDB manages and executes 12.86 million euros. The program’s actions are implemented through two components:
Climate Change Adaptation (CCA): Its goal is to support the adoption of CCA measures (mostly in connection with extreme events such as droughts and floods) both in policies and in water and sanitation investments.
Integrated water resources management (IWRM): It aims to impact the sector’s policy and investment development by promoting solutions adapted to the needs and capabilities of the communities, with a special focus on sanitation and on water management.
The part of the Program managed by IDB is being executed through technical cooperations.
The countries eligible for such funds are: Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay and Venezuela.