Colombia’s state-owned credit agency Findeter has organised a Ps130bn (US$40.1mn) syndicated credit for Bogota’s water utility EAAB for flood-prevention works along the Tunjuelito river.
Participating Colombian banks include: Granahorrar, Colpatria, Ganadero BBVA, Credito, Megabanco, Bancolombia, Union and Agrario. The 12-year loan has a three-year grace period.
Funds will support EAAB’s project to construct the 31m high, 600m long Cantarrana dam designed to trap up to 4mn cubic metres of water. The utility expects to open bidding by December 31, though Bogota environment regulator Dama must first clear the environmental license, the spokesperson said.
As part of the project, contractors would reposition existing river dikes and perform dredging to ensure proper water flow. The budget includes Ps53bn for dam construction, Ps25bn for works along the river, Ps32bn for real estate investments and Ps7bn for engineering, according to utility information.
Though dykes and three dams already exist to prevent flooding along the Tunjuelito, severe weather could overcome the infrastructure, overwhelming areas that currently house 500,000 people.