The Inter-American Development Bank (IDB), Fundación FEMSA and the Tecnológico de Monterrey signed an agreement on 14 November 2008 to create the Latin American and Caribbean Water Center, with an initial investment of $11 million.
Fundación FEMSA, founded by the beverage company FEMSA, is beginning its [global] operations with this project.
The Water Center will be operated by the Tecnológico de Monterrey and will [...] offer training, research and information management for the conservation and sustainable use of water, promote strategic alliances, and offer technical expertise and innovative approaches to the sector’s problems. [It] will target professionals in national and regional government agencies, and in companies involved in managing and using regional water resources.
[...] The water and sanitation sector is a priority for the IDB. In May 2007, the Bank approved the Water and Sanitation Initiative, whose [...] goal is to complete water and sanitation projects in 100 cities and 3,000 rural communities during the next four years. The Bank is already working in 44 cities and more than 700 rural communities, and it intends to lend at least a billion dollars a year for this sector.
The Water Center is the first IDB project financed with the recently created AquaFund.
The IDB has [also] been invited by Spain to collaborate in identifying, coordinating and supervising projects to be financed by the Water and Sanitation Cooperation Fund announced by the Spanish government during the 18th Latin American Summit held in El Salvador in late October. This fund will provide up to $1.5 million in grants for the region over the next four years.
Source: IDB, 14 Nov 2008
