R793 million boost for Durban’s water projects
The funds will ensure that there will be increased water-flow capacity throughout the eThekwini area.
THE eThekwini Municipality received a cash injection worth R793 million for the Northern and Western Aqueduct Projects.
According to reports, the funds were received from two sources, the Infrastructure Investment Programme of South Africa’s direct capital grant of R93-million, funded by the European Union, and two loan agreements from the Development Bank of South Africa and the Agence Francaise de Development (AFD), worth R350-million each.
The two projects are aimed at addressing water-related challenges where the existing bulk water supply infrastructure has reached capacity. The effect of this has been constrained water supply to residents and many developments have been placed on hold. Aged infrastructure was noted as another challenge where the effects have impacted on water quality.
City manager, Sibusiso Sithole, explained that it also augurs well for investor confidence in the city.
“It is a confirmation that eThekwini Municipality is on sound financial ground, hence development finance institutions like DBSA and AFD have facilitated this funding which will contribute to programmes that will ensure water supply for residents and commercial stakeholders.”
Martha Stein-Sochas, Regional Director at AFD said that the organisation was pleased to contribute to such programmes.
