 The PRD mayor Andrés Manuel López Obrador (2000–2005) renewed the contracts in 2004 for another five years.His successor Alejandro Encinas Rodríguez initially announced that the District would terminate the contracts even before they expired, but his successor Marcelo Ebrard actually extended them for another year until mid-2010.In 1996 the Inter-American Development Bank (IDB) approved a US$365 million loan for the Valley of Mexico Sanitation Project, in parallel with a loan of US$410 million by the Overseas Economic Cooperation Fund of Japan.