AFD to co-finance water projects

Manila, Philippines : A $400 million Asian Development Bank (ADB) project to improve water and waste-water management services in greater Colombo will be expanded through co-financing of $101 million from Agence Francaise de Developpement (AFD).

“The AFD loan will expand water supply to towns east of the capital and reorganise pumping and transmission arrangements in Colombo to save energy in the water supply system,” said ADB Senior Urban Development Specialist, Mingyuan Fan.

“This will improve the urban environment and quality for life for tens of thousands of residents in the greater Colombo area,” he said.

ADB approved the Greater Colombo Water and Waste-water Management Improvement Investment Program in October 2012 as a multi-tranche financing facility, which allows phased funding of individual projects when they are ready. Up to $300 million was to be provided by ADB in four parts from 2012 to 2016. Project 1 ($84 million) and 2 ($88 million) were approved by ADB in November 2012 and September 2013.

The AFD financing will expand sub-projects under tranche 2.

The ADB will administer the procurement and safeguards for the AFD loan, which will follow all ADB needs for social, environmental and gender protection.