AFD Adds $101 Million Cofinancing To ADB Colombo Water Services Program

MANILA, PHILIPPINES — A $400 million Asian Development Bank (ADB) project to improve water and wastewater management services in greater Colombo will be expanded through cofinancing of $101 million from Agence Francaise de Developpement (AFD).

“The AFD, loan will expand the water supply to towns east of the capital and reorganize current pumping and transmission arrangements in Colombo to save energy in the water supply system,” said Mingyuan Fan, an ADB Senior Urban Development Specialist. “This will improve the urban environment and quality for life for tens of thousands of residents in the greater Colombo area.”

ADB approved the Greater Colombo Water and Wastewater Management Improvement Investment Program in October 2012 as a multitranche financing facility, which allows phased funding of individual projects when they are ready.

Up to $300 million equivalent 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, respectively. The AFD financing will expand subprojects under tranche 2.

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