From left to right: Jekaterina Doródnova, EU Ambassador to Ecuador; Philippe Orliange, AFD Executive Director; Carmen Moreno Cordero; Honorary Consul of France in Cuenca; Priscille de Coninck, Director of AFD Ecuador; Cristian Zamora Matute, Mayor of Cuenca; and, María Caridad Vázquez, EMAC Manager.

The European Union (EU) delivers for the first time in Latin America and the Caribbean an EFSD+ FAST-Cities guarantee, focused on sustainability and the green economy of cities. The objective of this guarantee is to guarantee the financing that the French Development Agency (AFD) will provide for an amount of EUR 25 million to the Integral Management Program of Solid Waste and Green Areas of Cuenca, a key project for the sustainability and ecological transition of the city.

For the first time in Latin America and the Caribbean, this operation is supported by the European Union Financial Guarantee “EFSD+ FAST-Cities”, an innovative mechanism designed to mobilise investments towards sustainable development projects. Framed within the Global Gateway strategy of the European Union, this initiative opens new financing opportunities for Cuenca, without depending on sovereign guarantees. Global Gateway, as part of the EU's international strategy, seeks to mobilise resources towards sustainable infrastructure, support local capacity building and contribute to the fight against climate change, strengthening decentralised finance and enabling local governments to implement projects with a positive impact on their communities.

This project is part of the Team Europe initiative, "A Green Deal for Ecuador", which aims to promote the green transition and access to sustainable finance, reinforcing the European Union's commitment to sustainable development in Latin America.

EU Ambassador to Ecuador Jekaterina Doródnova highlighted the importance of this cooperation: This initiative, which is part of our Global Gateway strategy, and represents the first in Latin America and the Caribbean to benefit from this Guarantee, will not only improve waste management and the maintenance of green areas in Cuenca, but will also become a model to follow for other cities in the region, consolidating Team Europe's commitment to sustainability and the well-being of communities. With this type of partnership, the development of essential infrastructure is promoted and the foundations are laid for a greener and more resilient future for generations to come.

Philippe Orliange, Executive Director of AFD, said: “For the French Development Agency, it is a pride to be able to accompany the municipality of Cuenca and the EMAC EP in a project that will contribute to improving the quality of life of all Cuencans. More than ever, we want to highlight AFD’s commitment to supporting Ecuador’s public sector entities on their journey towards more resilient and friendly cities, fairer and more inclusive societies, stronger and empowered communities.”

The Integrated Management of Solid Waste and Green Areas of Cuenca program will have a global approach that covers the following areas:

• South Phase of Pichacay Sanitary Filling: Expansion and modernisation of waste treatment infrastructure to ensure adequate final disposal of solid waste in the city.
• Construction of the Green Complex: construction of a complex comprising the administrative, operations and logistics plant of EMAC EP.
• Vehicle Fleet Renewal: Replacement of collector trucks, dump trucks and other key vehicles to improve waste collection and disposal.
• Strengthening Health Waste Management: Expansion and modernization of the sterilization plant located in Pichacay.
• Reengineering of the Nursery of Yanaturo: Transformation of the nursery into a more efficient production center for the supply of plants for green areas and urban landscaping, contributing to the "greening" of the city.
• Strengthening Environmental Education: recovery of heritage infrastructure as an interpretation centre for environmental education, interactive classrooms and the use of digital technologies.

This project will be developed in several phases, with the first stage beginning in the first months of 2025 and continuing until 2031. Active community involvement will be essential to the success of environmental education and waste management initiatives.

Cuenca Mayor Cristian Zamora Matute said:  “this project is strategic for the city, in my 20-year career no infrastructure of this magnitude had been achieved for waste management in Cuenca” for her part María Caridad Vázquez, General Manager of EMAC EP, said “this loan is a unique opportunity for the EMAC, it allows us to finance strategic projects so that Cuenca remains at the technological forefront of Latin America”.

With the financing provided, Cuenca will be able to advance in its objective of being a more sustainable city, consolidating itself as a benchmark of sustainability in the region.