Thursday, July 18, 2024
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HomeBusinessClimate / EnvironmentTrinidad and Tobago will upgrade water services with IDB support

Trinidad and Tobago will upgrade water services with IDB support

TRINIDAD / USA – The Inter-American Development Bank (IDB) has approved a US$80 million loan to boost the efficiency, quality, sustainability, and resilience of Trinidad and Tobago’s drinking water supply and water security.

As part of a US$315 million conditional credit line for the Trinidad and Tobago National Water Sector Transformation Program, this initial operation will include institutional strengthening and capacity building to help the country’s ministry of public utilities and its executing agency, the Water and Sewerage Authority (WASA), improve their governance and sustainable management of water resources.

The program will directly benefit an estimated 1,025,000 residents (310,665 households), plus an additional 279,500 residents (84,705 households) in surrounding communities. Approximately 16,841 business, agricultural, and industrial customers and charitable institutions in different supply areas will benefit as well.

The program will support WASA’s operational, commercial, and technical management by providing access to innovative digital transformation tools and technologies and data-driven management systems.

WASA’s services will be upgraded through network rehabilitation and optimization, organizational development and capacity building, integrated water resources management, climate change and natural disaster risk management, and leveraging the IDB’s experience in water loss reduction projects. All of these actions promise to lower the agency’s operating costs and subsidies.

The program is aligned with the IDB Group’s country strategy for Trinidad and Tobago 2021–2025, specifically the strategic objective of optimizing digital service delivery by digitizing operational processes and adopting smart technology for water infrastructure and related information and communications technologies.

The loan will be disbursed over the course of four years, with a 25-year repayment term, a 5.5-year grace period, and an interest rate based on the Secured Overnight Financing Rate (SOFR).

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