“…So far, an explicit and transparent assessment of water values and the way they are impacted is often absent in the process leading up to economic arrangements. In the case of New York City, the costs of building a filtration plant were very clear and high enough to trigger action, but even here, the agreed package of US$ 1.5 billion does not offer a guarantee that the activities under the agreement will be sufficient to meet official water quality standards within the time frame of the filtration avoidance granted by the EPA (NRC, 2000;Hermans et al 2003). In Quito, the contributions to the fund by the constituents are set rather arbitrarily, based on their individual willingness and ability to pay, and the eventual impacts of projects funded by the FONAG on water availability downstream remain, as yet, largely unknown.…”