WASA seeking two IDB loans valued at $1.2B

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WASA seeking two IDB loans valued at $1.2B

The Water and Sewerage Authority (WASA), as it attempts to improve and transform, has reached out to the Inter-American Development Bank (IDB) to obtain two loans totaling TT$1.2 billion.

WASA is expected to receive its first IDB loan of US$80 million as early as next month, and will soon go to the American-based bank for an additional US$100 million.

Public Utilities Minister, Marvin Gonzales, said the US$80 million loan is contingent on a national water sector transformation programme that will significantly improve WASA’s operational efficiency and reliability of water services in T&T, while the US$100 million loan will provide the cash-strapped State company with technological advancement to address climate change.

Gonzales said, “This situation with climate change has become so urgent that while we (Government) are about to sign this loan agreement for US$80 million, we are about to commence discussions with respect to the next loan operation.”

“We are also looking at investing in high-density polyethylene pipelines (HDPE) which are flexible and would not rupture during land shifting. This US$100 million will be used for investing in tools and technology and being able to treat with highly turbid water and continued operation of WASA’s plants,” he said.

He anticipates that the loan will be approved and signed off on by the end of next month.