Puerto Rico receiving US$30mn for water projects
Puerto Rico is getting ready to carry out 15 water projects with a US federal loan of almost US$30mn.
The approval of the loan was notified to local authorities through a letter sent by the executive director of the Financial Oversight and Management Board for Puerto Rico, Robert Mujica, to the Puerto Rico Fiscal Agency and Financial Advisory Authority.
The transaction “would permit [Puerto Rico water authority] PRASA to borrow US$29.9mn from the federal Drinking Water State Revolving Fund Program (DWSRF) to finance substantial repairs, improvements and new construction.”
Although details of the water projects were not provided, news outlet Nuevo Día said they would be related to repairs to the water supply system after the damage caused by Storm Ernesto, which struck Puerto Rico on August 13 and 14.
“The agreement, as described in the submission, aligns with the 2024 PRASA fiscal plan, as it would, among other things, fund 15 capital projects addressing PRASA’s water intake, treatment plants, and related infrastructure projects crucial for ensuring the provision of safe water services by utilizing funds,” the letter states.
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