BWA to access multi-million dollar loan from CDB soon

The Barbados Water Authority (BWA) is one step closer to accessing funds from the US$39.5 million loan facility approved by the Caribbean Development Bank (CDB) for improvement of the island’s water supply network.

Giving an update today on the loan that was approved since December 10, 2015, Director of Projects at the CDB Daniel Best said disbursement should start before the end of June this year and critical infrastructure work should begin later this year.

Responding to questions during the CDB’s annual media conference at its Wildey, St Michael headquarters this morning, Best said the financial institution recently held talks with the new management at the BWA to determine how the implementation of the loan could be advanced.

“The procurement of engineering services under that initiative has commenced and the consultants should be engaged very early in the second quarter of this year and we anticipate that civil works under this initiative will commence later this year,” Best said.

The project will support an upgrade of existing infrastructure above ground, the replacement and refurbishment of reservoirs, measures to reduce non-revenue water, installation of at least four solar photovoltaic plants, as well as training for BWA staff in several areas.

Best also announced that the US$7.5 million approved in 2015 to prop up the Student Revolving Loan Fund (SRLF) and the US$225,000 for institutional strengthening to enhance its business model, should be disbursed before the end of June this year.

The SRLF provides funding for eligible Barbadians seeking assistance for their tertiary level education.

“We have been in discussions with the Government of Barbados and we anticipate a disbursement on the Student Revolving Loan Fund should occur very early in the second quarter. So the dialogue between the CDB and the various agencies in which we operate has been ongoing,” Best assured.

3 Responses to BWA to access multi-million dollar loan from CDB soon

  1. Hal Austin February 18, 2017 at 2:04 am

    BWA does not need a loan from the CDB, it needs good management. The CDB must stop keeping inefficient organisations and governments afloat.
    Is this loan going to be underwritten by the government? The CDB is part of the problem with the management of the Barbados economy.
    Stop bailing out these bodies and force them to employ good managers.

    Reply
  2. jrsmith February 18, 2017 at 5:56 am

    All we are seeing are the … ( tricky dickies )…. trying to hide what they can..
    Why the Canadians offered a very good deal on osmosis plant from sea water, why this was never taken up, and here we are a loan is ready… tell us why..
    We dont have the type of technical management to manage our water infrastructure , one of the major issues ….
    We need underground flooding storm drains .. this takes the pressures off our people ,who cannot afford every time we have a down pour their houses are flooded…..
    …………………………………………………………………..
    THIS IS WHERE WE WANT AND EXPLANATION FROM THE
    GOVERNMENT , WHY THIS LOAN NOW….

    Reply
  3. Tony Webster February 18, 2017 at 6:04 am

    @Hal: George Street must say a quite a few prayers for Dipper’s perspicacity, in getting C.D.B. to set up H.Q. right here. Easy access to the “good stuff”. Problem is, the interets rates which C.D.B. are attaching to the numerous loans to Hook, Line, and Slinker, are not only sky-high owing to our junk-bond rating…but also exacerbated owing C.D.B’s own standings have been adjusted …downwards too…because their portfolio has now nbeen “tainted’ by borrowers like us. Talk of the “earth’s groanings”?

    Mr. William Warren is a solid, very good man; he will most likely extract a promise of required action(s), and changes, and a time-frame cast in rock, before he agrees that Rx, to “advancing” the intravenous USD into the veins of C.B.B. Yes, the loan proceeds might reach the B.W.A. (if kept well-away from the Consolidated fund)…but it is those F/X reserves that needs the I/V….STAT!

    “Double, double, toil and trouble, fire burn and cauldron bubble”…
    Loans for water and for pipe
    Eat a bread wid wine and tripe
    Pay it back widdout whine or spite
    Living too high on de hog
    Yuh gine end like a frog
    In de house of de dog.

    With my most humble, abject apologies, to William …William S., that is.
    wid humlest,

    Reply

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