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2 Why Would CIDA be Supporting this Initiative?

This Project will assist Canadian industry in the Andean region (Argentina, Bolivia, Chile, Venezuela, Ecuador, Peru and probably Colombia) by providing information on natural hazards, ground water availability, and mineral resources, thus increasing the long term viability of foreign investment in these regions. In the Andean region there is direct Canadian investment of about $9 billion. Canadian exports approximately $1.6 billion and imports $2.3 billion to the 6 (or 7) participating countries. Any natural disaster that impacts a large region (such as an earthquake or volcanic eruption) will significantly impact these trade figures. The economy of the country (or countries) will be affected, reducing economic activity and forcing government spending in aid of the disaster victims. By providing a safer more secure environment current investment is protected and future investment is encouraged. Additionally, by providing information on natural hazards to local government it may reduce the impact of future disasters, thereby allowing Canada to refocus its foreign aid to other regions.