ADB loans US$128mn for water in Sri Lankan capital
ECONOMYNEXT – The Asian Development Bank (ADB) is giving Sri Lanka another loan of $128 million to fund safe water and waste water management in the Sri Lankan capital Colombo and suburbs.
The ADB loan agreement with the government of Sri Lanka signed on Thursday is the third tranche loan for phase three of the Greater Colombo Water and Wastewater Management Improvement Investment Program.
It aims to “assist the government to achieve its goal of providing safe water and full sanitation coverage for Greater Colombo under its Development Policy Framework,” an ADB statement said.
“The investment program will improve Colombo city dwellers’ quality of life and cater to increasing demand in the city for improved water and wastewater services,” said Sri Widowati, Country Director of the Sri Lanka Resident Mission of the ADB.
Colombo’s piped water supply system and piped sewerage system was built more than 100 years ago and no longer fully meets today’s needs.
The water system upgrade is expected to bring 24/7 water supply to Colombo city by reducing non- revenue water to less than 20 percent, the ADB said.
The project will also improve the sewer system in Colombo city and support the government to construct a wastewater treatment plant for Colombo’s southern catchment.
ADB’s Multi-tranche Financing Facility (MFF) – totaling $300 million – will fund 20 percent of the $1.5 billion investment plan for water and sanitation in Greater Colombo.
The first loan of $84 million was made in 2012 and the second loan of $88 million in 2013 . This is the third and last phase of the MFF, the ADB said.
This third phase will construct a new sewer system in unserved areas of Kirillopone.
The proposed wastewater treatment plant will improve effluent water quality of the Wellawatta sea outfall.
These works will be undertaken by the Colombo Municipal Council. The third phase will also support the National Water Supply and Drainage Board to complete the non-revenue water reduction program commenced under the previous phases.
(COLOMBO, August 11, 2016)