Government signs loan agreements with IDB

The content originally appeared on: Trinidad and Tobago Newsday

Planning and Development Minister Pennelope Beckles – Photo by Sureash Cholai

GOVERNMENT signed loan contract agreements with the Inter-American Development Bank (IDB) aimed at improving the efficiency and quality of TT’s water supply.

The agreements were signed by Planning and Development Minister Pennelope Beckles and IDB President Ilan Goldfajn at the Diplomatic Centre, St Ann’s on Tuesday. The Prime Minister witnessed the signing of these agreements.

A statement issued by the Office of the Prime Minister (OPM) said the agreements were a US$315 million loan through Conditional credit Line for Investment Projects (CCLIP) and a US$$80 million loan contract for the First Individual Operation for the National Water Sector Transformation Programme under the CCLIP.

The OPM said, “The IDB financing will be used to enhance the efficiency and quality of our water supply.”

The specific objectives of the loan programme are to improve thee operational efficiency and reliability of water supply services, improve the quality of water services for underserved communities in TT, develop capacity and provide institutional strengthening to the Public Utilities Ministry and the Water and Sewerage Authority (WASA).

Also present for the signing were Public Utilities Minister Marvin Gonzales and the IDB’s country representative for TT, Bahamas, Barbados, Guyana and Jamaica, Robert Le Hunte.

Le Hunte is a former TT public utilities minister.