CAF approves $20 million loan for Santa Marta

The financing from CAF, Development Bank of Latin America and the Caribbean, will support strategic actions framed in the 2024-2027 "Santa Marta 500+" Development Plan, and will be implemented in compliance with territorial fiscal indicators.

The funds will be used, among others, for urban renewal projects in the historic center of Santa Marta and drinking water and sanitation, which will contribute to defining a technical, commercial and social roadmap to reduce unaccounted-for water losses (which represent about 45%). To this end, hydraulic modeling activities, sectorization of the network, active leakage control, improvement of micro-metering, strengthening of commercial management and user awareness campaigns are contemplated.

"Santa Marta, as it commemorates five centuries of history, can embody a vision of urban development that harmonizes economic growth with the preservation of natural and cultural heritage. With its unique ecosystems, the valorization of its historical wealth and the creation of opportunities for its entire population, the city can set an inspiring precedent for other cities in the region seeking to move towards sustainable and just development models," said Sergio Diaz-Granados, CAF's executive president.

"From here on everything is going to be much easier. We are committed to the great transformations that Santa Marta needs, to deliver a much more developed city," said Carlos Pinedo, Mayor of Santa Marta.

With this loan, CAF supports Santa Marta in its transformation into a more sustainable, competitive, and inclusive city, and is committed to strengthening its social fabric as it celebrates its 500th anniversary. The implementation of these initiatives will position the city as a benchmark for sustainable urban development in the Colombian Caribbean.