On 25 October 2012, Asian Development Bank (ADB) approved a multitranche financing facility (MFF) of $300 million, envisaged to be funded from ADB s Ordinary Capital Resources (OCR) and Asian Development Fund (ADF), for the Greater Colombo Water and Wastewater Management Improvement Investment Program (the Investment Program). Tranche 1 ($84 million) under the Investment Program was approved by the President on 22 November 2012. The MFF is envisaged to comprise three additional tranches as follows: $88 million (Project 2 in 2013); $90 million (Project 3 in 2015); and $38 million (Project 4 in 2016). Tranches 1 and 2 focus on reducing non-revenue water (NRW) and improving water service efficiency in Greater Colombo. Tranches 3 and 4 will support improvement of wastewater collection and treatment facilities and management services in Greater Colombo. The Framework Financing Agreement (FFA) for the Investment Program was signed on 12 September 2012.
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