Austria Contributes $5 Million to Multi-Donor Water Fund

News Release | 28 April 2008

MANILA, PHILIPPINES - The Government of Austria has agreed to contribute $5 million to the Asian Development Bank's (ADB) Water Financing Partnership Facility (WFPF), helping to provide safe drinking water and sanitation services in remote and impoverished areas of the Asia and Pacific region.

Austria joins Australia and Norway in the multi-donor fund that provides resources to ADB's Water Financing Program 2006-2010. The Program focuses on the delivery of substantial investment, reform, and capacity development in three key areas - rural water services, urban water services, and river basin water management. Contributions to the Facility are directed primarily toward demonstration projects and support activities.

"By supporting the WFPF, our development partners directly help improve the lives of millions of people and make a significant contribution to achieving the Millennium Development Goals," said Karen Decker, ADB's Senior Financing Partnerships Specialist. "The WFPF strengthens partnerships in the water sector among governments, donors, civil society, and the private sector at the project and country levels."

ADB approved the establishment of the WFPF in December 2006 to mobilize additional resources from development partners for the Water Financing Program. Resources from partners under the WFPF are provided through project-specific loans, grants or guarantees under framework agreements negotiated with each financing partner, pooled grants through the Facility's trust fund component, and other forms of assistance.

To date, WFPF actual and intended commitments include $19.8 million from The Netherlands, about $32 million equivalent from Australia, about $5.5 million equivalent from Norway, and $5 million from Austria.