The Inter-American Development Bank today announced the approval of a $27 million loan to Guyana to improve the quality and availability of water supply and sewerage services in Georgetown and to reduce the level of environmental degradation.
The resources will help finance the construction of iron removal plants in two production centers, the installation of water trunk mains, the rehabilitation of part of the water distribution system, and the installation of meters.
The sewer system will be rehabilitated and a pretreatment facility to convey the sludge from the septic tanks will be built.
In addition, the Georgetown Sewerage and Water Commissioners,* the agency responsible for water and sanitation services, will be strengthened.
The total cost of the project is $30 million. The IDB loan from the Fund for Special Operations is for a 40-year term, with a 10-year grace period, at an annual interest rate of 1 percent during the grace period and 2 percent thereafter. Local counterpart funds are $3 million.