Home / Knowledge / News / Textiles / IDB approves $5mn loan for environmental management

IDB approves $5mn loan for environmental management

07
Jun '07
The Inter-American Development Bank (IDB) announced the approval of a $5 million loan for modernization of environmental management and planning in Uruguay.

The program, financed under the Sector Facility for institutional strengthening, will support modernization of institutions and mechanisms for environmental management in order to improve the country's competitiveness and environmental quality.

"The Uruguayan economy is undergoing significant changes that have modernized it and clearly require efficient environmental management. Sectors such as mining, forestry, pulp, fisheries and tourism have been developing so rapidly that they have now surpassed agricultural production, which dominated the economy until 1990," said Helena Landázuri de Piaggesi, IDB team leader.

Along with the economy, sources of investment have also diversified. Foreign investment in Uruguay is expected to grow to some 20 percent of GDP in 2007, a volume unprecedented in the history of the country.

This growth will translate into new investment projects that will have to be assessed and overseen to ensure that they help improve the environmental competitiveness of the country and do no have any adverse environmental impact, said Landázuri de Piaggesi.

The IDB-funded program is designed to improve public sector capacity to fully meet its obligations with respect to environmental management, to give more transparency and consistency to procedures for environmental authorizations and permits, and to expand outreach to civil society in the resolution of environmental problems.

The Uruguayan government will use the loan proceeds to reengineer the main environmental management mechanisms, in order to improve efficiency in environmental impact assessment and control for development projects.

It will also set up a National Environment System run by a modern, efficient institution, with the participation of government agencies and private institutions.

Inter-American Development Bank


Must ReadView All

European Commission proposes new EU GSP for 2024-2034 period

Textiles | On 24th Sep 2021

European Commission proposes new EU GSP for 2024-2034 period

The European Commission recently adopted the legislative proposal for ...

Pic: EURATEX

Press Release | On 24th Sep 2021

EURATEX president Paccanelli urges for support to tackle energy crisis

European Apparel and Textile Confederation (EURATEX) has announced...

Pic: Shutterstock

Apparel/Garments | On 24th Sep 2021

UK competition watchdog to crack down on green fashion claims

To help businesses understand how to communicate their green...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Consistency is the first rule of social media

Textile Industry, Head honchos

Textile Industry
Head honchos

Strongly believe in 'people first' policy.

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Ujjval Saraf,

Ujjval Saraf

Founded by Jimmy Lai, Giordano International Ltd, a Hong Kong based...

Barry Goodwin,

Barry Goodwin

UK based Amba Projex Ltd designs, manufactures, and installs industrial...

Chini Chouhan,

Chini Chouhan

Founded by Chini Chouhan, her eponymous brand specialises in women's...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Silverio Baranzano, Fitesa

Silverio Baranzano
Fitesa

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha &amp; Jigar blends India's unique handcrafts...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search