European Investment Bank grants loan for JIRAMA Water III project
Wednesday, 01 Jul 2020
The European Investment Bank (EIB) and the government of France have signed USD 39.3 million loan to the Republic of Madagascar.
The financing will go towards the JIRAMA Water III project, and comes in addition to US 33.7 million EU grant from the Africa Investment Platform (AIP).
The project implemented by Jiro sy Rano Malagasy (JIRAMA) involves making priority investments for the drinking water supply system of the Urban Municipality of Antananarivo.
These investments involve both production capacity, transport and distribution of drinking water in the capital city and on its outskirts.
The total investment amount is USD 83 million, 47 percent of which will be provided by EIB. The project will not have been possible without the steadfast support of the European Commission, which will provide USD 33.7 million, including USD 30.2 million grant and USD 3.4 million for technical assistance.
The remainder of the financing will come from the Republic of Madagascar (USD 7.3 million) and the Water & Sanitation for the Urban Poor (WSUP) not-for-profit organisation, which has been actively working with JIRAMA to improve its water services for the last 10 years, and offered vital support for preparing the project and also provided USD 2.8 million grant.
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