The Santa Fe–Córdoba Interprovincial Aqueduct is a major water infrastructure project connecting the centro-norte region of Santa Fe with the centro-este region of Córdoba, Argentina, funded through a $100 million soft loan from the Saudi Fund for Development — the SFD’s first-ever credit operation in Argentina — designed to deliver safe drinking water to over 400,000 residents across both provinces. The project is structured across three construction blocks: Block A (water intake, raw water aqueduct, treatment plant), and Blocks B and C (main trunk pipeline, pumping stations, and distribution branches to multiple towns). In November 2024, Argentina’s national government formally signed the Guarantee Contract with the Saudi Fund for Development, with Economy Minister Luis Caputo and the Governors of Santa Fe and Córdoba present, unlocking construction of Blocks B and C. The same Economy Minister Caputo has since been central to another landmark infrastructure commitment, confirming the restart of the $5 billion Santa Cruz hydroelectric dam complex in Patagonia — a project stalled for nearly a decade that, once complete, will contribute significant renewable power to Argentina’s national grid.

Project Overview

Type: Interprovincial water supply aqueduct

Location: Santa Fe and Córdoba provinces, Argentina (centro-norte Santa Fe to centro-este Córdoba)

Total SFD loan value: US$100 million (soft loan)

Additional funding: US$50 million from the Kuwait Fund for Arab Economic Development (Block A)

Beneficiaries: Over 400,000 inhabitants across both provinces

Financing split: 50% each from Santa Fe and Córdoba provinces (per agreement signed November 30, 2021)

Block A: Water intake works, raw water aqueduct, treatment plant, and 4,740m of trunk pipeline to Coronda — already underway, Kuwaiti-funded

Block B: 20.4km of 1.70m-diameter trunk pipeline plus 44+ km of distribution branches to towns including Barrancas and Gessler — Saudi-funded

Block C: Pumping Station No. 2, 17.7km of trunk pipeline and 39+ km of branches supplying Loma Alta, Gálvez, San Eugenio, Campo Piaggio and López — Saudi-funded

Alignment with UN SDGs: SDG 3 (Good Health & Well-Being) and SDG 6 (Clean Water & Sanitation)

Argentina becomes the 93rd country to receive SFD financing

Project Team

Borrowers/Owners: Province of Santa Fe; Province of Córdoba

National Government representative: Minister of Economy, Luis Caputo

Governor of Santa Fe: Maximiliano Pullaro

Governor of Córdoba: Martín Llaryora

Lender (Blocks B & C): Saudi Fund for Development (SFD)

SFD CEO: Sultan Abdulrahman Al-Marshad

Lender (Block A): Kuwait Fund for Arab Economic Development

Previous signatories (original Oct 2023 loan agreement): Governor Omar Perotti (Santa Fe), Governor Juan Schiaretti (Córdoba)

Published 31st October 2023: A recent $100 million deal agreed upon by Argentina and the Saudi Fund for Development to build a joint water canal project, is expected to drive progress in Argentina’s water sector.

According to a statement, the soft loan arrangement, which represents the fund’s first entry into the South American country, seeks to help fund the initial phase of the construction project between Santa Fe and Cordoba.

Also read: Initiation of the Second Phase of Lesotho Highlands Water Project Receives a Warm Welcome

In order to improve living standards as well as promote socioeconomic prosperity throughout Latin America, SFD is committed to supporting sustainable development. This commitment aligns with the goals of this initiative.

The country’s economic resilience will be improved. It will also help meet the rising demand for potable water in the two provinces.

The project aligns well with the Sustainable Development Goals of the UN. This includes SDGs 3 and 6 (clean water and sanitation) as well as SDG 3 (good health and well-being).

Sultan bin Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development, expressed delight in their company’s involvement in this endeavor. According to him, the Joint Water Canal project aims to have a positive impact on countless lives. This is by improving access to safe drinking water in developing countries. He also expressed enthusiasm for continued support of these projects.

The CEO highlighted the significance of access to safe water, proper sanitation, as well as hygiene for human health and well being. He focused on how these aspects could help prevent a variety of diseases caused by dirty water.

Impact of the Joint Water Canal Project on Economic Partnership

The Governor of Cordoba, Juan Schiaretti, stated that the signing marks the commencement of a strong economic partnership between SFD and Argentina. He was also thankful for the support that will aid in their development.

Argentina becomes the 93rd country to receive fund benefits as a result of this agreement.

Over 750 development projects in more than 90 countries, or approximately $20 billion, have been financed by SFD. Through the support of social and infrastructural projects, it aids nations that are developing.

It involves a wide range of sectors. These sectors include renewable energy, agriculture, communications, as well as transportation.