Water Fund concludes fiscal year funding 16 towns with 700 mln birr
Reaches 100 towns with 10 billion birr
The Water Resources Development Fund (WRDF) has concluded the current Ethiopian fiscal year by availing more than 700 million birr loan to 16 rural towns in order to scale up the availability of running water in the country.
Signing the credit facilities with representatives of 16 towns, Wana Wake, director general of WRDF said that the overall of financing that has been provided to small rural towns has reached to be more than 10 billion birr with the number of towns reaching more than 100 in recent months.
Back in March alone, the state run WRDF has been able to extend 1.1 billion birr concessional loan, registering some nine billion birr via co-financing deals for 92 projects. That figure has now reached to hit more than 10 billion with the outreach of 100 projects including the 16 towns that have agreed to develop potable water projects within 12 months of
Established 15 years ago, WRDF has only been able to pump huge amounts of funding this past two to three years. Backed by the World Bank Group (WBG), the European Investment Bank (EIB), the French Development Agency (AFD), the Italian Development Agency (AICS) and the like, WRDF finances projects focused on sanitary and hygiene. It is to be recalled that the WBG last year extended USD 450 million that would reach 22 towns including Addis Ababa for projects that will focus on waste water treatments.