NWC secures US$37mn refinancing loan
Bnamericas Published: Thursday, August 04, 2011
Jamaica's housing, environment and water ministry has signed a US$37mn refinancing contract with the National Commercial Bank ( NCB) in relation to a loan for the Central Wastewater Treatment Company (CWTC), government news agency JIS reported. The Central Wastewater Treatment Company is under the control of the National Water Commission ( NWC). The government plans to invest over US$1bn in NWC over the next 10 years to improve efficiency and increase potable water coverage to 70% in rural areas. Since 2008, a proportion of all billed water (known locally as the K factor) has been channeled towards an investment program for NWC. These funds are expected to exceed J$40bn (US$470mn) over the next 10 years, said environment, housing and water minister Horace Chang.
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