ADB to fund ageing water project in Colombo
The Asian Development Bank (ADB) is providing $300 million in loans to overhaul the quality, coverage, and management of water and wastewater services in the Sri Lankan capital, Colombo.
Parts of Colombo’s water supply distribution network are over 100 years old and some areas only get water for less than half the day, while the sewer network suffers from frequent collapses and blockages, said Mingyuan Fan, Urban Development Specialist in ADB’s South Asia Department. Our assistance will help the government make water and sanitation services higher quality, costeffective, and sustainable.
The multitranche financing facility approved by the ADB Board of Directors will support a $400 million government investment program to improve water and sanitation in greater Colombo. ADB’s first tranche loan of $84 million will focus on reducing water losses in Colombo, which are estimated to cost more than $13 million a year in foregone revenue.
The program aims to make water available 24 hours a day throughout greater Colombo by 2020.