Contacts: In Washington: Stevan Jackson (202) 458-5054 sjackson@worldbank.org Patricia da Camara (202) 473-4019 pdacamara@worldbank.org WASHINGTON, April 10, 2007― The World Bank’s Board of Directors today approved US$1.84 million in additional financing for the Water Supply Infrastructure Improvement Project to improve water supply infrastructure in St. Lucia’s northern region. “This interest-free credit will provide additional funds to close a small financing gap for an important water project approved in 2005,” said Caroline Anstey, World Bank Director for the Caribbean. “The project will continue to assist the Government of St. Lucia in relieving urgent water shortages and rejuvenating tourism property development in the north, which was being affected by lack of water.” The project specifically supports the following objectives: - Alleviate the water shortage in the north, the most densely populated and developed region of the island, and supply a more efficient, continuous, and reliable service.
- Implement urgent investments that will result in additional revenues, reduce the likelihood of commercial users abandoning the system, and improve the potential of a successful partnership between the government and the private sector.
Originally approved by the Board of Directors less than two years ago, the Water Supply Infrastructure Improvement Project is nearly complete and its implementation has been highly satisfactory. Since then, additional water is flowing to the communities in the north, large increases in pumping volume at the reservoir have doubled water treatment capacity, and improved storage capability and the addition of large transmission pipes to move the new levels of water have been achieved. “The big winners are current residential customers who will benefit from savings obtained from reduction or elimination of rationing”, said Jordan Schwartz, World Bank task manager for the project. “In addition, the project will increase coverage for those households currently without access to the service.” The US$1.84 million credit from the International Development Association (IDA), the institution of the World Bank that provides interest-free loans, has a 35-year maturity and a 10-year grace period.
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For more information on the St. Lucia Water Supply Infrastructure Improvement Project, please visit: http://web.worldbank.org/external/projects/main?pagePK=64283627&piPK=73230&theSitePK=40941&menuPK=228424&Projectid=P105027 For information on the World Bank’s work in St. Lucia, please visit: http://www.worldbank.org/oecs |
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