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IDB $100m loan to enhance infrastructure of Water and Sewerage Corporation

IDB President Ilan Goldfajn (left) and Prime Minister Philip ‘Brave’ Davis (right). (BIS Photos/Eric Rose)

IDB President Ilan Goldfajn (left) and Prime Minister Philip ‘Brave’ Davis (right). (BIS Photos/Eric Rose)

By JADE RUSSELL

Tribune Staff Reporter

jrussell@tribunemedia.net

MORE than 200,000 Bahamians are expected to benefit from a $100m loan agreement between the Davis administration and the Inter-American Development Bank (IDB), which will be used to enhance the Water and Sewerage Corporation’s (WSC) efficiency, potable water supply, and waste services.

The investment aims to improve sustainability and resilience in water and wastewater services across The Bahamas. It will fund infrastructure upgrades, smart technologies, and operational efficiencies, reducing non-revenue water and improving service reliability.

IDB President Ilan Goldfajn said the agreement will provide potable water services to 600 households in the Family Islands and 700 in New Providence for the first time. He said 65,000 families will benefit from the project, with 235,000 Bahamians receiving improved water services.

The agreement was signed yesterday during the IDB’s 13th annual consultation with Caribbean Governors at Baha Mar. It was described as a “transformative step” for the country’s water and sanitation sector.

WSC Executive Chairman Reverend Trajean Jadorette said the investment will allow the WSC to implement smart technologies, such as digital metering and advanced water monitoring systems, to reduce non-revenue water. These technologies will be particularly beneficial in large Family Island systems, where water losses are a major concern.

WSC  also plans to introduce smart digital meters and advanced metering infrastructure to enable faster meter readings, more accurate billing, and improved leak detection. Mr Jadorette said these advancements would help customers manage their accounts more efficiently and reduce unnecessary costs. 

Prime Minister Philip “Brave” Davis called the agreement a significant milestone in the government’s partnership with the IDB.

“The partnership continues to play a crucial role in advancing our nation’s water and sanitation sector, a priority that has been at the forefront of my government’s efforts,” Mr Davis said. “We remain steadfast in our commitment to improving the delivery of water and sanitation services to every Bahamian, especially as we confront the challenges of climate change and rapid urbanisation.”

Mr Davis praised his administration for securing the $100 million loan, noting that there will be an initial operation of $50 million that will help expand the Non-Revenue Water (NRW) programme to the Family Islands. He recalled overseeing the NRW programme as Deputy Prime Minister and Minister of Public Works and Urban Development from 2012 to 2017.

Once WSC makes substantial progress with the initial loan, officials can access the remaining $50 million, which will fund major upgrades in New Providence and the Family Islands.

Comments

Porcupine 1 week, 2 days ago

What is the repayment schedule? What is the interest rate? What collateral is put up as security? What checks and balances are in place to make sure the money is going where they say it is going? Didn't the IDB just issue a report on how badly The Bahamas has fared in efficiently allocating the IDB money? Didn't they just give The Bahamas overall bad grades? And yet, these wonderful people at IDB are throwing good money after bad? Makes one wonder what the IDB is trying to do, hey? But yet, they see fit in strapping future Bahamians with this odious debt, on top of all the other loans we are only paying interest on. Does any reasonable person who understands basic mathematics think this is sustainable? Why really, is W&S in the present dilapidated state it is currently in? Could it possibly because of wholly incompetent and under-educated management, rampant employee slackness, theft and lack of maintenance. In other words, every politician alive has allowed this situation to fester, even to the point of tourists leaving this country disappointed because we refuse to be responsible, professional or visionary. And, we are fine taking out another $100 million dollar loan, expecting our children to pick up the tab for our lack of character and poor ethical behaviour. Wow!

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