IDB, Spain to Set Up Water and Sanitation Fund

The Inter-American Development Bank and Spanish government will jointly administer the USD1.5 billion Fund for Cooperation for Water and Sanitation. The accord, according to an IDB release, specifies that “Spain will set priorities and evaluate the impact of the projects financed by the Fund, while the IDB will identify and prepare specific investments and oversee their implementation and evaluation, in coordination with the recipient governments.” Spain will contribute an initial USD396 million to the new fund. (“IDB and Spain establish new fund to improve water and sanitation in Latin America and Caribbean” - Inter-American Development Bank, Oct. 29, 2008)

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